<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>SCHEDULE 13G/A</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <!-- Field: Pseudo-Tag; ID: Name; Data: Flynn James E -->
          <cik>0001352546</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <amendmentNo>1</amendmentNo>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>09/30/2025</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0001789972</issuerCik>
        <issuerName>Cullinan Therapeutics, Inc.</issuerName>
        <issuerCusip>230031106</issuerCusip>
        <issuerPrincipalExecutiveOfficeAddress>
          <com:street1>One Main Street, Suite 1350</com:street1>
          <com:city>Cambridge</com:city>
          <com:stateOrCountry>MA</com:stateOrCountry>
          <com:zipCode>02142</com:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(c)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Deerfield Mgmt, L.P.</reportingPersonName>
      <memberGroup>b</memberGroup>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>2927013.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>2927013.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>2927013.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>4.95</classPercent>
      <typeOfReportingPerson>PN</typeOfReportingPerson>
      <comments>Comprised of shares of common stock held by Deerfield Partners, L.P., of which Deerfield Mgmt, L.P. is the general partner.</comments>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Deerfield Management Company, L.P.</reportingPersonName>
      <memberGroup>b</memberGroup>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>2927013.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>2927013.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>2927013.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>4.95</classPercent>
      <typeOfReportingPerson>PN</typeOfReportingPerson>
      <comments>Comprised of shares of common stock held by Deerfield Partners, L.P., of which Deerfield Management Company, L.P. is the investment advisor.</comments>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Deerfield Partners, L.P.</reportingPersonName>
      <memberGroup>b</memberGroup>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>2927013.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>2927013.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>2927013.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>4.95</classPercent>
      <typeOfReportingPerson>PN</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>James E. Flynn</reportingPersonName>
      <memberGroup>b</memberGroup>
      <citizenshipOrOrganization>X1</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>2927013.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>2927013.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>2927013.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>4.95</classPercent>
      <typeOfReportingPerson>IN</typeOfReportingPerson>
      <comments>Comprised of shares of common stock held by Deerfield Partners, L.P.</comments>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>Cullinan Therapeutics, Inc.</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>One Main Street, Suite 1350, Cambridge, Massachusetts, 02142</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>James E. Flynn, Deerfield Mgmt, L.P., Deerfield Partners, L.P. and Deerfield Management Company, L.P.</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>James E. Flynn, Deerfield Mgmt, L.P., Deerfield Partners, L.P. and Deerfield Management Company, L.P., 345 Park Avenue South, 12th Floor, New York, NY 10010</principalBusinessOfficeOrResidenceAddress>
        <citizenship>Deerfield Mgmt, L.P., Deerfield Management Company, L.P. and Deerfield Partners, L.P. - Delaware limited partnerships;

James E. Flynn - United States citizen</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>Y</notApplicableFlag>
      </item3>
      <item4>
        <amountBeneficiallyOwned>Deerfield Mgmt, L.P. - 2,927,013 shares
Deerfield Management Company, L.P. - 2,927,013 shares
Deerfield Partners, L.P. - 2,927,013 shares
James E. Flynn - 2,927,013 shares</amountBeneficiallyOwned>
        <classPercent>Deerfield Mgmt, L.P. - 4.95%
Deerfield Management Company, L.P. - 4.95%
Deerfield Partners, L.P. - 4.95%
James E. Flynn - 4.95%</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>All Reporting Persons - 0</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>Deerfield Mgmt, L.P. - 2,927,013
Deerfield Management Company, L.P. - 2,927,013
Deerfield Partners, L.P. - 2,927,013
James E. Flynn - 2,927,013</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>All Reporting Persons - 0</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>Deerfield Mgmt, L.P. - 2,927,013
Deerfield Management Company, L.P. - 2,927,013
Deerfield Partners, L.P. - 2,927,013
James E. Flynn - 2,927,013</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>N</notApplicableFlag>
        <classOwnership5PercentOrLess>Y</classOwnership5PercentOrLess>
      </item5>
      <item6>
        <notApplicableFlag>Y</notApplicableFlag>
      </item6>
      <item7>
        <notApplicableFlag>Y</notApplicableFlag>
      </item7>
      <item8>
        <notApplicableFlag>N</notApplicableFlag>
        <identificationAndClassificationOfGroupMembers>See Exhibit B</identificationAndClassificationOfGroupMembers>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.</certifications>
      </item10>
    </items>
    <exhibitInfo>Exhibit A.  Joint Filing Agreement.

Exhibit B.  Item 8 Statement.

Exhibit C.  Power of Attorney (1).

(1) Power of Attorney previously filed as Exhibit 24 to a Form 3 with regard to BiomX Inc. filed with the Securities and Exchange Commission on March 19, 2024 by Deerfield Private Design Fund V, L.P., Deerfield Healthcare Innovations Fund II, L.P., Deerfield Mgmt V, L.P., Deerfield Mgmt HIF II, L.P., Deerfield Management Company, L.P. and James E. Flynn.</exhibitInfo>
    <signatureInformation>
      <reportingPersonName>Deerfield Mgmt, L.P.</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Jonathan Isler</signature>
        <title>Jonathan Isler, Attorney-In-Fact</title>
        <date>11/13/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Deerfield Management Company, L.P.</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Jonathan Isler</signature>
        <title>Jonathan Isler, Attorney-In-Fact</title>
        <date>11/13/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Deerfield Partners, L.P.</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Jonathan Isler</signature>
        <title>Jonathan Isler, Attorney-In-Fact</title>
        <date>11/13/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>James E. Flynn</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Jonathan Isler</signature>
        <title>Jonathan Isler, Attorney-In-Fact</title>
        <date>11/13/2025</date>
      </signatureDetails>
    </signatureInformation>
  </formData>

</edgarSubmission>
