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Crescent Biopharma Announces Transformational Partnership with Kelun-Biotech and $185 Million Private Placement, Accelerating and Expanding Global Pipeline of Next Generation Therapeutics for Solid Tumors
Partnership with Kelun-Biotech expands pipeline and accelerates combination strategy with CR-001, a PD-1 x VEGF bispecific antibody, and multiple
About this update from Crescent Biopharma, Inc.
[{"type":"text","content":" Partnership with Kelun-Biotech expands pipeline and accelerates combination strategy with CR-001, a PD-1 x VEGF bispecific antibody, and multiple antibody-drug conjugates (ADCs), generating clinical data in global markets and Greater China CR-001, CR-002, CR-003 (SKB105) on track to enter the clinic in 2026; first CR-001 x ADC combination trial expected to initiate by year-end 2026 Planned Phase 1/2 trial of CR-001 expected to enroll first-line and previously-treated patients and designed for early, robust data generation Differentiated topoisomerase inhibitor ADCs, CR-002 and CR-003 (SKB105), against validated targets of PD-L1 and integrin beta-6 with best-in-class potential as monotherapy and as synergistic combinations with CR-001 $185 million private placement supports several key clinical data readouts beginning in Q1 2027 and provides expected cash runway into 2028 Company to host conference call and webcast today, December 4, 2025 at 8:00 a.m. ET WALTHAM, Mass., Dec. 04, 2025 (GLOBE NEWSWIRE) -- Crescent Biopharma, Inc. (“Crescent” or the “Company”) (Nasdaq: CBIO), a biotechnology company dedicated to rapidly advancing the next wave of therapies for cancer patients, today announced an exclusive partnership with Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. (“Kelun-Biotech”) and a comprehensive pipeline update, as well as a $185 million private placement, which is expected to close on or about December 8, 2025, subject to satisfaction of customary closing conditions. “We’re excited to share the tremendous progress we’ve made executing on our strategy of building a robust portfolio of next generation oncology therapeutics,\" said Joshua Brumm, chief executive officer of Crescent. “CR-001, our PD-1 x VEGF bispecific antibody, has the potential to be a foundational immuno-oncology backbone and the partnership we announced with Kelun-Biotech today has enhanced our pipeline of ADCs and accelerated our efforts to deliver potentially best-in-class novel combination therapies. Crescent is now poised to have three distinct programs entering the clinic in 2026 and multiple data readouts anticipated from both monotherapy and novel combination therapy studies by the end of 2027. Additionally, the financing we announced today with leading healthcare investors strengthens our balance sheet, providing anticipated cash runway through...