Foresite Capital Participates in Cullinan Therapeutics $280M Stock Purchase Agreement

Gunderson Dettmer represented client Foresite Capital in its participation in Cullinan Therapeutics’ oversubscribed $280 million stock purchase agreement. Cullinan Therapeutics is a biopharmaceutical company focused on developing modality-agnostic targeted therapies. The proceeds from the financing are expected to be used to support Cullinan’s ongoing research and development activities, the expansion of its CD19xCD3 T cell engager clinical program for autoimmune diseases, as well as general corporate purposes and working capital.

Cullinan entered into a stock purchase agreement with certain institutional and accredited investors for a private placement of approximately $274.0 million of shares of its common stock at a price of $19.00 per share and, in lieu of common stock to certain investors, $6.0 million of pre-funded warrants to purchase shares of its common stock at a price of $18.999 per pre-funded warrant.

The Gunderson Dettmer deal team was co-led by Ryan Gunderson and Jonathan Spencer 

Companies
Foresite Capital
Cullinan Therapeutics