Cullgen Receives $16 Million Series A Investment to Advance Pipeline of Targeted Protein Degraders

Series A financing led by two leading global venture capital firms –
Sequoia Capital China and Highlight Capital

SAN DIEGO–(BUSINESS WIRE)–Cullgen Inc. (Cullgen), a biotechnology company dedicated to the
development of targeted protein degraders for the treatment of diseases
lacking effective therapeutic approaches, today announced it has
received a $16 million Series A financing from two prominent
international venture capital firms, Sequoia Capital China (Sequoia) and
Highlight Capital (HC). The financing will support the development of
Cullgen’s internal pipeline of targeted protein degraders in oncology
and other diseases, as well as the company’s efforts to discover novel
E3 ligands that may be used as part of a targeted protein degrader
complex. Sequoia will also assign a board member to join the Cullgen
board.

“We are delighted to have the support of Sequoia and HC”, said Dr. Ying
Luo, Chairman and President of Cullgen “Since our founding in early 2018
we have made significant advancement of our targeted protein degradation
platform which has directly led to the identification of several
pre-clinical assets that we are rapidly advancing towards the clinic. In
addition to these core scientific advancements, over the past year the
company has assembled a distinguished board of scientific advisors, put
in place an outstanding senior management team, and established a
state-of-the-art laboratory facility that is run by more than 40 highly
talented employees. We are grateful that Sequoia and HC will be part of
Cullgen’s mission to develop novel targeted protein degraders for the
treatment of debilitating diseases.”

About Cullgen Inc.:
Cullgen is a drug discovery company
leveraging ubiquitin-mediated, small molecule-induced protein
degradation technology. The company’s research programs focus on novel
treatment for cancer, inflammatory, and autoimmune diseases. For more
information, visit www.cullgen.com.

About uSMITE™:
uSMITE™ (ubiquitin mediated small molecule
induced target elimination) is Cullgen’s proprietary targeted protein
degradation platform that is used to identify novel degraders that
attach to a disease-causing protein and then signal the body’s ubiquitin
proteasome system to eliminate the protein.

About Sequoia China (Sequoia):
Sequoia team helps daring
founders build legendary companies. In partnering with Sequoia,
companies benefit from our unmatched community and the lessons we’ve
learned over 47 years. As “The Entrepreneurs Behind The Entrepreneurs”,
Sequoia focuses on four sectors: TMT, healthcare, consumer/service, and
industrial technology with a privilege of working with more than 500
companies in China over the past 14 years.

About Highlight Capital (HC):
HC currently manages both RMB
& USD funds with a total AUM of nearly US$1.5 billion. Since the
inception in 2014, the firm has invested in over 40 deals. HC is
dedicated to supporting healthcare companies to generate robust and
sustained growth prospect, and partnering with entrepreneurs of
dedication and the highest standard.

Contacts

Cullgen Inc.
Thomas Eastling, +81-3-6214-3600
[email protected]