GNI Group agreed to contribute its stake in Chinese drugmaker Beijing Continent Pharmaceuticals to Catalyst Biosciences in exchange for shares, while its US unit also buys Catalyst stock, making Catalyst a GNI subsidiary. No price was given. The combined company was renamed Gyre Therapeutics when the deal closed in October 2023. How it worked The deal was agreed in December 2022 and amended twice in 2023. GNI's US and Japanese units and Shanghai Genomics took part, and Catalyst gained an indirect controlling stake in Beijing Continent Pharmaceuticals. When it closed, the Nasdaq ticker changed from CBIO to GYRE. Gyre today Gyre holds about 70% of Beijing Continent, which sells the fibrosis drug Etorel in China. In May 2026 Gyre also completed a merger with Cullgen, another drug developer.
