Cullinan Therapeutics (CGEM) Earnings Call Presentation

Acquisition of Velinotamig - Cullinan Therapeutics is licensing velinotamig (BCMAxCD3) from Genrix Bio for global (ex-Greater China) rights across all indications[8] - Cullinan will pay Genrix Bio an upfront license fee of $20 million[40] - Genrix Bio is eligible to receive up to $292 million in development and regulatory milestones and $400 million in sales-based milestones[41] - Genrix Bio will also be eligible for tiered royalties from mid-single digits up to the mid-teens on potential ex-Greater China commercial sales[40] Velinotamig Clinical Development - Genrix Bio plans to initiate a Phase 1 study in China in autoimmune diseases later this year, with Cullinan planning to use the data to accelerate global clinical development[8, 27] - Velinotamig has Breakthrough Therapy Designation in China for relapsed/refractory multiple myeloma[27] - Phase 1 results of velinotamig in relapsed/refractory multiple myeloma showed an Overall Response Rate (ORR) of 85.4% at the RP2D target dose[30] - In the Phase 1 trial, 89.6% of patients experienced Cytokine Release Syndrome (CRS) of any grade, with 6.3% experiencing ≥Grade 3 CRS[34] Strategic Rationale - The acquisition complements Cullinan's CLN-978 (B cell depleter) and expands the opportunity to impact more patients across a broader range of autoimmune diseases[8] - Cullinan reiterates guidance to have cash resources into 2028 based on the current operating plan[8, 41]