Pulmatrix to potentially divest its patent portfolio for iSPERSE technology

Peter Ludlum, Interim CEO of Pulmatrix (PULM), commented, “Our focus in the third quarter has been to advance steps to complete the proposed merger with Cullgen, a privately held, clinical-stage biopharmaceutical company focused on the discovery and development of targeted protein degrader therapies for the treatment of pain, cancer and other diseases. If consummated, the proposed merger would create a Nasdaq-listed company focusing on targeted protein degradation technology with three degrader programs in Phase 1 clinical trials – two for the treatment of cancer and one for the treatment of acute and chronic pain, which Cullgen recently announced has completed enrollment. As part of the proposed merger, Pulmatrix is currently in a process to potentially divest its patent portfolio encompassing our iSPERSE technology, as well as three related clinical programs, including our Phase 2 ready acute migraine program.”