Pulmatrix and Cullgen Terminate Merger Agreement

Pulmatrix Inc., a biopharmaceutical company focused on the development of novel inhaled therapeutic products, has announced the termination of its Merger Agreement with Cullgen Inc., which was announced in November 2024.

This termination follows the announcement that Pulmatrix and Cullgen had mutually agreed to waive the “No Solicitation” clause in the Merger Agreement in order to permit each party to explore alternate transactions in the period until closing. At this time, Pulmatrix continues to pursue alternative merger opportunities.

Peter Ludlum, Interim CEO of Pulmatrix, said, “Due to the significant delays at the Chinese Regulatory Authority (CSRC) in 2025, we initiated a process earlier this year to identify an alternative reverse merger opportunity for the Company, and we are encouraged by both the interest we’ve had to date as well as the recent increase in transaction activity within our industry.”