Cullinan Inks $700M Deal for BCMA Bispecific to Expand Autoimmune T-Cell Engager Portfolio
Cullinan Therapeutics is paying $20 million upfront to Genrix Bio for the ex-China rights to velinotamig, a BCMAxCD3 bispecific T-cell engager.
The agreement could total up to $700 million, factoring in $292 million in development and regulatory milestones, $400 million in sales-based milestones, and potential tiered royalties.
Velinotamig has been tested in nearly 50 patients with multiple myeloma, showing strong efficacy.
Cullinan plans to pair velinotamig with its existing CD19xCD3 T-cell engager (CLN-978), which is under development for systemic lupus erythematosus, to address a wider range of autoimmune diseases.
Genrix will start a Phase 1 study of velinotamig in autoimmune disease in China before Cullinan pursues further global clinical development.