4 Worcester Business Journal | March 9, 2026 | wbjournal.com
Worcester Business Journal (ISSN#1063-6595) is published bi-
weekly, 24x per year, including 4 special issues in May, September,
October, and December by New England Business Media, 446
Main St, Suite 201, Worcester, MA 01608. Periodicals postage paid
at Worcester, MA. Copyright 2026. All rights reserved. Postmaster:
Please send address changes to: Worcester Business Journal,
446 Main St, Suite 201, Worcester, MA 01608.
Subscriptions: Annual subscriptions are available for $100.00. For
more information, please email circulation@nebusinessmedia.com
or contact our circulation department at 508-755-8004 x242.
Advertising: For advertising information, please call Kris Prosser at
508-755-8004 ext. 286.
Worcester Business Journal accepts no responsibility for
unsolicited manuscripts or materials and in general does not
return them to the sender.
Worcester Business Journal
446 Main St, Suite 201, Worcester, MA 01608
508-755-8004 tel.
• www.wbjournal.com
Worcester Business Journal
WBJ
A division of:
Editor, Brad Kane,
bkane@wbjournal.com
Managing Editor, Eric Casey,
ecasey@wbjournal.com (real estate,
banking & finance)
Staff Writer
Mica Kanner-Mascolo,
mkannermascolo@wbjournal.com
(manufacturing, health care, education)
Contributors
Sloane M. Perron, Sara Bedigian, Emily
Micucci, Livia Gershon
Photographers
Matt Wright, Edd Cote, Christine
Peterson
Research Director,
Stephanie Meagher,
smeagher@nebusinessmedia.com
Research Assistant, Heide Martin,
hmartin@nebusinessmedia.com
Production Director, Kira Beaudoin,
kbeaudoin@wbjournal.com
General Manager
Kris Prosser, kprosser@wbjournal.com
Senior Accounts Manager
Christine Juetten,
cjuetten@wbjournal.com
Accounts Manager
Timothy Doyle
tdoyle@wbjournal.com
Special Product Manager
Regina Stillings
rstillings@nebusinessmedia.com
Human Resources Manager,
Tracy Rodwill,
trodwill@nebusinessmedia.com
Director of Finance, Sara Ward,
sward@nebusinessmedia.com
Accounting Clerk, Rae Rogers,
rrogers@nebusinessmedia.com
Event Coordinator,
Patty Harris,
pattyh@wbjournal.com
Director of Audience Development
and Operations, Leah Allen,
lallen@nebusinessmedia.com
Business Office Assistant,
Nicole Dunn,
ndunn@nebusinessmedia.com
Publisher and CEO, Tom Curtin
tcurtin@hartfordbusinessjournal.com
Chief Operating Officer,
Andrea Tetzlaff
atetzlaff@mainebiz.biz
Publisher Emeritus, Peter Stanton
pstanton@nebusinessmedia.com
Framingham biopharma
looking for new merger after
San Diego deal terminated
Sixteen months aer small Framingham
biopharma Pulmatrix announced plans to
merge with San Diego-based drug develop-
er Cullgen, the deal has been called off.
Cullgen informed Pulmatrix it was end-
ing the pair's merger agreement in a Feb. 28
termination notice, according to a March 2
press release from Pulmatrix. On March 2,
Cullgen announced it was now going to be
acquired by Gyre erapeutics, a biophar-
ma company also based in San Diego. In
a deal worth approximately $300 million,
Cullgen will operate as a wholly-owned
subsidiary of Gyre.
Cullgen's termination of the Pulmatrix
merger is a result of significant delays at the
China Securities Regulatory Commis-
sion that occurred in 2025, Peter Ludlum,
Pulmatrix interim CEO, said in the release.
With Cullgen operating a location out of
Shanghai, the merger deal had been await-
ing CSRC approval.
In November 2024, Pulmatrix an-
nounced it would be almost completely
acquired by Cullgen in a deal to see Pulma-
trix stockholders retain approximately 3.6%
of the combined company, with Cullgen
owners retaining 96.4% of the firm.
Pulmatrix is still looking for new merger
opportunities.
"We are encouraged by both the interest
we've had to date as well as the recent
increase in transaction activity within our
industry," Ludlum said in the release.
Established in 2003, Pulmatrix specializ-
es in the development of inhaled therapeu-
tics to treat conditions including migraines,
chronic obstructive pulmonary disease, and
asthma. With two full-time employees, Pul-
matrix did not generate revenue last year,
and instead operated with a $5.2-million
net loss in the fiscal year ending on Dec. 31,
according to a Feb. 26 filing with the U.S.
Securities and Exchange Commission.
Woman-owned Hardwick
butchery to open $3M meat
processing facility
Stillman Quality Meats, a wom-
an-owned livestock farm and butchery
out of Hardwick, this spring will open a
8,000-square-foot USDA meat processing
facility to meet the growing demand follow-
ing the COVID-19 pandemic.
Warehouse Storage For Rent
Asset Management Program
Office and Lab Moving
WE KNOW STORAGE!!!!
thestoragecompany.com
Show leadership in housing stability
for women & children
Align with 50 years of trusted
impact
Help secure a safe haven for
generations
SPONSOR
OUR GALA
bit.ly/abbys50sponsor
Lead with impact. Sponsor change.
For 50 Years, Abby's House Has Been
There: And We're Just Getting Started
Become a sponsor at bit.ly/abbys50thanniversary
By becoming a sponsor of our 50th
Anniversary Gala, your organization
will:
CORRECTION: The story "Hamilton
leads a $42M effort to help youth" in the
Feb. 23 edition incorrectly said The Boys
& Girls Club of Worcester has completed
its $42-million fundraising effort for its
expansion. The fundraising campaign
has started but is not complete.
