{"id":71413,"date":"2026-07-30T20:57:19","date_gmt":"2026-07-30T12:57:19","guid":{"rendered":"https:\/\/flcube.com\/?p=71413"},"modified":"2026-07-30T20:58:00","modified_gmt":"2026-07-30T12:58:00","slug":"qyuns-therapeutics-partner-caldera-to-merge-with-synlogic-in-278m-backed-deal-advancing-tl1a-il-23p19-bispecific-antibody-for-inflammatory-bowel-disease","status":"publish","type":"post","link":"https:\/\/flcube.com\/?p=71413","title":{"rendered":"Qyuns Therapeutics&#8217; Partner Caldera to Merge with Synlogic in $278M Backed Deal, Advancing TL1A\/IL-23p19 Bispecific Antibody for Inflammatory Bowel Disease"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Qyuns Therapeutics Co., Ltd.<\/strong> (<a href=\"https:\/\/www.google.com\/finance\/beta\/quote\/2509:HKG\">HKG: 2509<\/a>) announced that its development partner <strong>Caldera Therapeutics<\/strong> has entered into a <strong>definitive merger agreement with Synlogic<\/strong> (<a href=\"https:\/\/www.google.com\/finance\/beta\/quote\/SYBX:OTCMKTS\">OTCMKTS: SYBX<\/a>) to combine in an <strong>all-stock transaction<\/strong>, creating a unified entity that will operate as <strong>Caldera Therapeutics, Inc.<\/strong> and trade on the <strong>Nasdaq Capital Market under ticker &#8220;CALD&#8221;<\/strong>. The merger is supported by a <strong>concurrent private placement financing of approximately $278 million<\/strong> from a syndicate of leading healthcare investors, which will fund <strong>Phase II clinical development of QX030N\/CLD-423<\/strong> \u2013 Qyuns&#8217; investigational <strong>bispecific antibody targeting TL1A and IL-23p19 pathways<\/strong> for inflammatory bowel disease (IBD).<\/p>\n\n\n\n<h2 id=\"h-transaction-structure\" class=\"wp-block-heading\">Transaction Structure<\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>Item<\/th><th>Detail<\/th><\/tr><\/thead><tbody><tr><td><strong>Merger Type<\/strong><\/td><td>All-stock transaction<\/td><\/tr><tr><td><strong>Combined Entity<\/strong><\/td><td>Caldera Therapeutics, Inc. (NASDAQ: CALD)<\/td><\/tr><tr><td><strong>Financing Amount<\/strong><\/td><td>$278 million gross proceeds (concurrent private placement)<\/td><\/tr><tr><td><strong>Lead Investors<\/strong><\/td><td>Bain Capital Life Sciences, TCGX, Atlas Venture, venBio Partners, Omega Funds, Blackstone Multi-Asset Investing, LAV, Wellington Management, Janus Henderson Investors, Sirenia Capital, Vivo Capital, plus additional mutual funds and institutional investors<\/td><\/tr><tr><td><strong>Primary Use of Proceeds<\/strong><\/td><td>Phase II development of QX030N\/CLD-423 in ulcerative colitis and Crohn&#8217;s disease; potential expansion to other immune-mediated diseases<\/td><\/tr><tr><td><strong>Qyuns Stake<\/strong><\/td><td>11.48% ownership in combined entity (diluted from 24.88% following Series A-1 financing)<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 id=\"h-asset-profile-amp-development-strategy\" class=\"wp-block-heading\">Asset Profile &amp; Development Strategy<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Lead Candidate:<\/strong> <strong>QX030N\/CLD-423<\/strong> \u2013 investigational bispecific antibody with dual mechanism of action<\/li>\n\n\n\n<li><strong>Target Pathways:<\/strong> Simultaneous inhibition of <strong>TL1A (TNFSF15)<\/strong> and <strong>IL-23p19<\/strong>, two clinically validated targets in IBD pathogenesis<\/li>\n\n\n\n<li><strong>Therapeutic Indications:<\/strong> <strong>Ulcerative colitis, Crohn&#8217;s disease<\/strong>, and potential expansion to other immune-mediated inflammatory conditions<\/li>\n\n\n\n<li><strong>Development Stage:<\/strong> Advancing to <strong>Phase II clinical trials<\/strong> with substantial funding support<\/li>\n\n\n\n<li><strong>Commercial Rights:<\/strong> <strong>Global exclusive rights<\/strong> granted to Caldera under April 2025 collaboration agreement<\/li>\n<\/ul>\n\n\n\n<h2 id=\"h-strategic-rationale-amp-market-opportunity\" class=\"wp-block-heading\">Strategic Rationale &amp; Market Opportunity<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The <strong>global inflammatory bowel disease market<\/strong> is projected to reach <strong>$25 billion by 2030<\/strong>, driven by increasing incidence rates, limited treatment durability, and significant unmet needs in refractory patients. Current biologic therapies primarily target <strong>single pathways<\/strong> (TNF-\u03b1, IL-12\/23, integrins, or JAK), but <strong>primary non-response and secondary loss of response<\/strong> remain major clinical challenges.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Dual pathway inhibition<\/strong> represents a promising next-generation approach to overcome these limitations:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>TL1A pathway<\/strong> drives fibrosis and stricturing complications in Crohn&#8217;s disease<\/li>\n\n\n\n<li><strong>IL-23 pathway<\/strong> is central to Th17-mediated inflammation in both UC and CD<\/li>\n\n\n\n<li><strong>Simultaneous blockade<\/strong> may provide superior efficacy and prevent compensatory inflammatory mechanisms<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">The <strong>merger creates a well-capitalized entity<\/strong> with:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Substantial cash runway<\/strong> ($278M financing) supporting multi-year development<\/li>\n\n\n\n<li><strong>Enhanced credibility<\/strong> through public listing on Nasdaq<\/li>\n\n\n\n<li><strong>Access to broader investor base<\/strong> and potential partnership opportunities<\/li>\n\n\n\n<li><strong>Operational scale<\/strong> to advance multiple development programs<\/li>\n<\/ul>\n\n\n\n<h2 id=\"h-qyuns-therapeutics-positioning\" class=\"wp-block-heading\">Qyuns Therapeutics Positioning<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Strategic Investment:<\/strong> Qyuns holds <strong>11.48% equity stake<\/strong> in the combined entity, providing significant upside exposure to asset success<\/li>\n\n\n\n<li><strong>Royalty Stream:<\/strong> Retains <strong>royalty rights<\/strong> on global sales of QX030N\/CLD-423 while transferring development costs and risks<\/li>\n\n\n\n<li><strong>Portfolio Diversification:<\/strong> Maintains focus on core pipeline while benefiting from partner-funded advancement of IBD asset<\/li>\n\n\n\n<li><strong>Capital Efficiency:<\/strong> Achieves <strong>de-risked value creation<\/strong> without bearing full development burden<\/li>\n<\/ul>\n\n\n\n<h2 id=\"h-investor-syndicate-significance\" class=\"wp-block-heading\">Investor Syndicate Significance<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The <strong>exceptionally strong investor lineup<\/strong> validates the therapeutic approach and commercial potential:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Bain Capital Life Sciences<\/strong> \u2013 leading life sciences-focused private equity firm<\/li>\n\n\n\n<li><strong>Atlas Venture<\/strong> \u2013 prominent early-stage biotech venture capital firm<\/li>\n\n\n\n<li><strong>Wellington Management &amp; Janus Henderson<\/strong> \u2013 major mutual fund complexes with healthcare expertise<\/li>\n\n\n\n<li><strong>Specialized IBD investors<\/strong> including venBio Partners and Omega Funds with deep therapeutic area knowledge<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">This level of institutional support suggests <strong>high confidence in the dual-pathway hypothesis<\/strong> and <strong>robust clinical data packages<\/strong> supporting Phase II advancement.<\/p>\n\n\n\n<h2 id=\"h-next-steps-amp-timeline\" class=\"wp-block-heading\">Next Steps &amp; Timeline<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Merger Closing:<\/strong> Expected within <strong>60-90 days<\/strong> subject to regulatory approvals and shareholder consents<\/li>\n\n\n\n<li><strong>Phase II Initiation:<\/strong> Clinical trial start anticipated in <strong>Q1 2027<\/strong> with primary endpoints focused on <strong>clinical remission and endoscopic improvement<\/strong><\/li>\n\n\n\n<li><strong>Regulatory Strategy:<\/strong> Engage with <strong>FDA and EMA<\/strong> on trial design and potential accelerated approval pathways<\/li>\n\n\n\n<li><strong>Additional Indications:<\/strong> Evaluate expansion into <strong>other TL1A\/IL-23 mediated diseases<\/strong> including psoriasis, ankylosing spondylitis, and hidradenitis suppurativa<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Forward\u2011Looking Statements<\/strong><br>This brief contains forward-looking statements regarding merger completion, clinical development timelines, regulatory strategies, and financial projections. Actual results may differ due to risks including merger integration challenges, clinical trial outcomes, regulatory requirements, competitive developments, and capital market conditions.<a href=\"https:\/\/flcube.com\/\">-Fineline Info &amp; Tech<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Qyuns Therapeutics Co., Ltd. (HKG: 2509) announced that its development partner Caldera Therapeutics has entered&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"googlesitekit_rrm_CAownpewDA:productID":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7,10],"tags":[30,4026,20,1239,4876,4875,495,4874],"class_list":["post-71413","post","type-post","status-publish","format-standard","hentry","category-company","category-deals","tag-biotech","tag-caldera-therapeutics","tag-finance","tag-hkg-2509","tag-nasdaq-cald","tag-otcmkts-sybx","tag-qyuns-therapeutics","tag-synlogic"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.5 (Yoast SEO v28.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Qyuns Therapeutics&#039; Partner Caldera to Merge with Synlogic in $278M Backed Deal, Advancing TL1A\/IL-23p19 Bispecific Antibody for Inflammatory Bowel Disease - Insight, China&#039;s Pharmaceutical Industry<\/title>\n<meta name=\"description\" content=\"Qyuns Therapeutics Co., Ltd. (HKG: 2509) announced that its development partner Caldera Therapeutics has entered into a definitive merger agreement with Synlogic (OTCMKTS: SYBX) to combine in an all-stock transaction, creating a unified entity that will operate as Caldera Therapeutics, Inc. and trade on the Nasdaq Capital Market under ticker &quot;CALD&quot;. The merger is supported by a concurrent private placement financing of approximately $278 million from a syndicate of leading healthcare investors, which will fund Phase II clinical development of QX030N\/CLD-423 \u2013 Qyuns&#039; investigational bispecific antibody targeting TL1A and IL-23p19 pathways for inflammatory bowel disease (IBD).\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/flcube.com\/?p=71413\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Qyuns Therapeutics&#039; Partner Caldera to Merge with Synlogic in $278M Backed Deal, Advancing TL1A\/IL-23p19 Bispecific Antibody for Inflammatory Bowel Disease\" \/>\n<meta property=\"og:description\" content=\"Qyuns Therapeutics Co., Ltd. (HKG: 2509) announced that its development partner Caldera Therapeutics has entered into a definitive merger agreement with Synlogic (OTCMKTS: SYBX) to combine in an all-stock transaction, creating a unified entity that will operate as Caldera Therapeutics, Inc. and trade on the Nasdaq Capital Market under ticker &quot;CALD&quot;. The merger is supported by a concurrent private placement financing of approximately $278 million from a syndicate of leading healthcare investors, which will fund Phase II clinical development of QX030N\/CLD-423 \u2013 Qyuns&#039; investigational bispecific antibody targeting TL1A and IL-23p19 pathways for inflammatory bowel disease (IBD).\" \/>\n<meta property=\"og:url\" content=\"https:\/\/flcube.com\/?p=71413\" \/>\n<meta property=\"og:site_name\" content=\"Insight, China&#039;s Pharmaceutical Industry\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61566606313834\" \/>\n<meta property=\"article:published_time\" content=\"2026-07-30T12:57:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-07-30T12:58:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/flcube.com\/wp-content\/uploads\/2024\/11\/Fineline-info-tech-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1894\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Fineline Cube\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:description\" content=\"Navigate the complexities of China\u2019s pharmaceutical industry with precision and clarity. FLCUBE delivers reliable data, news, and intelligence to broaden your horizons and sharpen your decision-making. Stay informed, stay ahead with FLCUBE.COM\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fineline Cube\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/flcube.com\\\/?p=71413#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/flcube.com\\\/?p=71413\"},\"author\":{\"name\":\"Fineline Cube\",\"@id\":\"https:\\\/\\\/flcube.com\\\/#\\\/schema\\\/person\\\/19ad11870d326204db8524d3c3c5e66a\"},\"headline\":\"Qyuns Therapeutics&#8217; Partner Caldera to Merge with Synlogic in $278M Backed Deal, Advancing TL1A\\\/IL-23p19 Bispecific Antibody for Inflammatory Bowel Disease\",\"datePublished\":\"2026-07-30T12:57:19+00:00\",\"dateModified\":\"2026-07-30T12:58:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/flcube.com\\\/?p=71413\"},\"wordCount\":687,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/flcube.com\\\/#organization\"},\"keywords\":[\"Biotech\",\"Caldera Therapeutics\",\"Finance\",\"HKG: 2509\",\"NASDAQ: CALD\",\"OTCMKTS: SYBX\",\"QYuns Therapeutics\",\"Synlogic\"],\"articleSection\":[\"Company\",\"Deals\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/flcube.com\\\/?p=71413#respond\"]}],\"copyrightYear\":\"2026\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/flcube.com\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/flcube.com\\\/?p=71413\",\"url\":\"https:\\\/\\\/flcube.com\\\/?p=71413\",\"name\":\"Qyuns Therapeutics' Partner Caldera to Merge with Synlogic in $278M Backed Deal, Advancing TL1A\\\/IL-23p19 Bispecific Antibody for Inflammatory Bowel Disease - Insight, China&#039;s Pharmaceutical Industry\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/flcube.com\\\/#website\"},\"datePublished\":\"2026-07-30T12:57:19+00:00\",\"dateModified\":\"2026-07-30T12:58:00+00:00\",\"description\":\"Qyuns Therapeutics Co., Ltd. (HKG: 2509) announced that its development partner Caldera Therapeutics has entered into a definitive merger agreement with Synlogic (OTCMKTS: SYBX) to combine in an all-stock transaction, creating a unified entity that will operate as Caldera Therapeutics, Inc. and trade on the Nasdaq Capital Market under ticker \\\"CALD\\\". The merger is supported by a concurrent private placement financing of approximately $278 million from a syndicate of leading healthcare investors, which will fund Phase II clinical development of QX030N\\\/CLD-423 \u2013 Qyuns' investigational bispecific antibody targeting TL1A and IL-23p19 pathways for inflammatory bowel disease (IBD).\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/flcube.com\\\/?p=71413#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/flcube.com\\\/?p=71413\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/flcube.com\\\/?p=71413#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/flcube.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Qyuns Therapeutics&#8217; Partner Caldera to Merge with Synlogic in $278M Backed Deal, Advancing TL1A\\\/IL-23p19 Bispecific Antibody for Inflammatory Bowel Disease\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/flcube.com\\\/#website\",\"url\":\"https:\\\/\\\/flcube.com\\\/\",\"name\":\"Insight, China's Pharmaceutical Industry\",\"description\":\"Fineline Insights, Pharma Clarity\",\"publisher\":{\"@id\":\"https:\\\/\\\/flcube.com\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/flcube.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/flcube.com\\\/#organization\",\"name\":\"Fineline Infomation and Technology\",\"alternateName\":\"Fineline Info & Tech\",\"url\":\"https:\\\/\\\/flcube.com\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/flcube.com\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/flcube.com\\\/wp-content\\\/uploads\\\/2024\\\/11\\\/Fineline-info-tech-scaled.jpg\",\"contentUrl\":\"https:\\\/\\\/flcube.com\\\/wp-content\\\/uploads\\\/2024\\\/11\\\/Fineline-info-tech-scaled.jpg\",\"width\":2560,\"height\":1894,\"caption\":\"Fineline Infomation and Technology\"},\"image\":{\"@id\":\"https:\\\/\\\/flcube.com\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/profile.php?id=61566606313834\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/flcube.com\\\/#\\\/schema\\\/person\\\/19ad11870d326204db8524d3c3c5e66a\",\"name\":\"Fineline Cube\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/89f733aaed3d2d91d7d6f45d0e9ab509e3004e8243c6e57620b36380684657f2?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/89f733aaed3d2d91d7d6f45d0e9ab509e3004e8243c6e57620b36380684657f2?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/89f733aaed3d2d91d7d6f45d0e9ab509e3004e8243c6e57620b36380684657f2?s=96&d=mm&r=g\",\"caption\":\"Fineline Cube\"},\"sameAs\":[\"https:\\\/\\\/flcube.com\"],\"url\":\"https:\\\/\\\/flcube.com\\\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Qyuns Therapeutics' Partner Caldera to Merge with Synlogic in $278M Backed Deal, Advancing TL1A\/IL-23p19 Bispecific Antibody for Inflammatory Bowel Disease - Insight, China&#039;s Pharmaceutical Industry","description":"Qyuns Therapeutics Co., Ltd. (HKG: 2509) announced that its development partner Caldera Therapeutics has entered into a definitive merger agreement with Synlogic (OTCMKTS: SYBX) to combine in an all-stock transaction, creating a unified entity that will operate as Caldera Therapeutics, Inc. and trade on the Nasdaq Capital Market under ticker \"CALD\". The merger is supported by a concurrent private placement financing of approximately $278 million from a syndicate of leading healthcare investors, which will fund Phase II clinical development of QX030N\/CLD-423 \u2013 Qyuns' investigational bispecific antibody targeting TL1A and IL-23p19 pathways for inflammatory bowel disease (IBD).","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/flcube.com\/?p=71413","og_locale":"en_US","og_type":"article","og_title":"Qyuns Therapeutics' Partner Caldera to Merge with Synlogic in $278M Backed Deal, Advancing TL1A\/IL-23p19 Bispecific Antibody for Inflammatory Bowel Disease","og_description":"Qyuns Therapeutics Co., Ltd. (HKG: 2509) announced that its development partner Caldera Therapeutics has entered into a definitive merger agreement with Synlogic (OTCMKTS: SYBX) to combine in an all-stock transaction, creating a unified entity that will operate as Caldera Therapeutics, Inc. and trade on the Nasdaq Capital Market under ticker \"CALD\". The merger is supported by a concurrent private placement financing of approximately $278 million from a syndicate of leading healthcare investors, which will fund Phase II clinical development of QX030N\/CLD-423 \u2013 Qyuns' investigational bispecific antibody targeting TL1A and IL-23p19 pathways for inflammatory bowel disease (IBD).","og_url":"https:\/\/flcube.com\/?p=71413","og_site_name":"Insight, China&#039;s Pharmaceutical Industry","article_publisher":"https:\/\/www.facebook.com\/profile.php?id=61566606313834","article_published_time":"2026-07-30T12:57:19+00:00","article_modified_time":"2026-07-30T12:58:00+00:00","og_image":[{"width":2560,"height":1894,"url":"https:\/\/flcube.com\/wp-content\/uploads\/2024\/11\/Fineline-info-tech-scaled.jpg","type":"image\/jpeg"}],"author":"Fineline Cube","twitter_card":"summary_large_image","twitter_description":"Navigate the complexities of China\u2019s pharmaceutical industry with precision and clarity. FLCUBE delivers reliable data, news, and intelligence to broaden your horizons and sharpen your decision-making. Stay informed, stay ahead with FLCUBE.COM","twitter_misc":{"Written by":"Fineline Cube","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/flcube.com\/?p=71413#article","isPartOf":{"@id":"https:\/\/flcube.com\/?p=71413"},"author":{"name":"Fineline Cube","@id":"https:\/\/flcube.com\/#\/schema\/person\/19ad11870d326204db8524d3c3c5e66a"},"headline":"Qyuns Therapeutics&#8217; Partner Caldera to Merge with Synlogic in $278M Backed Deal, Advancing TL1A\/IL-23p19 Bispecific Antibody for Inflammatory Bowel Disease","datePublished":"2026-07-30T12:57:19+00:00","dateModified":"2026-07-30T12:58:00+00:00","mainEntityOfPage":{"@id":"https:\/\/flcube.com\/?p=71413"},"wordCount":687,"commentCount":0,"publisher":{"@id":"https:\/\/flcube.com\/#organization"},"keywords":["Biotech","Caldera Therapeutics","Finance","HKG: 2509","NASDAQ: CALD","OTCMKTS: SYBX","QYuns Therapeutics","Synlogic"],"articleSection":["Company","Deals"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/flcube.com\/?p=71413#respond"]}],"copyrightYear":"2026","copyrightHolder":{"@id":"https:\/\/flcube.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/flcube.com\/?p=71413","url":"https:\/\/flcube.com\/?p=71413","name":"Qyuns Therapeutics' Partner Caldera to Merge with Synlogic in $278M Backed Deal, Advancing TL1A\/IL-23p19 Bispecific Antibody for Inflammatory Bowel Disease - Insight, China&#039;s Pharmaceutical Industry","isPartOf":{"@id":"https:\/\/flcube.com\/#website"},"datePublished":"2026-07-30T12:57:19+00:00","dateModified":"2026-07-30T12:58:00+00:00","description":"Qyuns Therapeutics Co., Ltd. (HKG: 2509) announced that its development partner Caldera Therapeutics has entered into a definitive merger agreement with Synlogic (OTCMKTS: SYBX) to combine in an all-stock transaction, creating a unified entity that will operate as Caldera Therapeutics, Inc. and trade on the Nasdaq Capital Market under ticker \"CALD\". The merger is supported by a concurrent private placement financing of approximately $278 million from a syndicate of leading healthcare investors, which will fund Phase II clinical development of QX030N\/CLD-423 \u2013 Qyuns' investigational bispecific antibody targeting TL1A and IL-23p19 pathways for inflammatory bowel disease (IBD).","breadcrumb":{"@id":"https:\/\/flcube.com\/?p=71413#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/flcube.com\/?p=71413"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/flcube.com\/?p=71413#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/flcube.com\/"},{"@type":"ListItem","position":2,"name":"Qyuns Therapeutics&#8217; Partner Caldera to Merge with Synlogic in $278M Backed Deal, Advancing TL1A\/IL-23p19 Bispecific Antibody for Inflammatory Bowel Disease"}]},{"@type":"WebSite","@id":"https:\/\/flcube.com\/#website","url":"https:\/\/flcube.com\/","name":"Insight, China's Pharmaceutical Industry","description":"Fineline Insights, Pharma Clarity","publisher":{"@id":"https:\/\/flcube.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/flcube.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/flcube.com\/#organization","name":"Fineline Infomation and Technology","alternateName":"Fineline Info & Tech","url":"https:\/\/flcube.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/flcube.com\/#\/schema\/logo\/image\/","url":"https:\/\/flcube.com\/wp-content\/uploads\/2024\/11\/Fineline-info-tech-scaled.jpg","contentUrl":"https:\/\/flcube.com\/wp-content\/uploads\/2024\/11\/Fineline-info-tech-scaled.jpg","width":2560,"height":1894,"caption":"Fineline Infomation and Technology"},"image":{"@id":"https:\/\/flcube.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/profile.php?id=61566606313834"]},{"@type":"Person","@id":"https:\/\/flcube.com\/#\/schema\/person\/19ad11870d326204db8524d3c3c5e66a","name":"Fineline Cube","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/89f733aaed3d2d91d7d6f45d0e9ab509e3004e8243c6e57620b36380684657f2?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/89f733aaed3d2d91d7d6f45d0e9ab509e3004e8243c6e57620b36380684657f2?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/89f733aaed3d2d91d7d6f45d0e9ab509e3004e8243c6e57620b36380684657f2?s=96&d=mm&r=g","caption":"Fineline Cube"},"sameAs":["https:\/\/flcube.com"],"url":"https:\/\/flcube.com\/?author=1"}]}},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/flcube.com\/index.php?rest_route=\/wp\/v2\/posts\/71413","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/flcube.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/flcube.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/flcube.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/flcube.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=71413"}],"version-history":[{"count":2,"href":"https:\/\/flcube.com\/index.php?rest_route=\/wp\/v2\/posts\/71413\/revisions"}],"predecessor-version":[{"id":71415,"href":"https:\/\/flcube.com\/index.php?rest_route=\/wp\/v2\/posts\/71413\/revisions\/71415"}],"wp:attachment":[{"href":"https:\/\/flcube.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=71413"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/flcube.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=71413"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/flcube.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=71413"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}