Business
Crescent Biopharma Reports Fourth Quarter and Full Year 2025 Financial Results and Recent Business Highlights
Established partnership with Kelun-Biotech expanding pipeline and accelerating combination strategy with CR-001, PD-1 x VEGF bispecific antibody, and multiple
About this update from Crescent Biopharma, Inc.
[{"type":"text","content":"Established partnership with Kelun-Biotech expanding pipeline and accelerating combination strategy with CR-001, PD-1 x VEGF bispecific antibody, and multiple ADCs ASCEND Phase 1/2 global clinical trial underway to evaluate CR-001 in advanced solid tumors with three additional clinical trials across the portfolio expected to initiate in 2026 Completed $185 million private placement, supporting several key clinical data readouts beginning in Q1 2027 and providing expected cash runway into 2028 WALTHAM, Mass., Feb. 26, 2026 (GLOBE NEWSWIRE) -- Crescent Biopharma, Inc. (“Crescent” or the “Company”) (Nasdaq: CBIO), a clinical-stage biotechnology company dedicated to rapidly advancing the next wave of therapies for cancer patients, today announced financial results for the fourth quarter and full year ended December 31, 2025, and recent business highlights. “2025 was a transformational year for Crescent and our efforts to deliver next generation therapies that can improve outcomes for people living with cancer. We expanded our pipeline and accelerated our efforts to deliver best-in-class novel combinations through our exciting partnership with Kelun-Biotech,” said Joshua Brumm, chief executive officer of Crescent. “We now have our Phase 1/2 ASCEND clinical trial underway for CR-001, which is positioned to be an immuno-oncology backbone in the treatment of solid tumors. Three more trials are on track to initiate this year, including the first Phase 1/2 ADC combination trial with CR-001. We are rapidly advancing toward multiple clinical data readouts beginning in the first quarter of 2027 and with our recent private placement, we are well funded to deliver on these milestones.” Recent Business Highlights & Anticipated Milestones Corporate In December 2025, Crescent announced a strategic partnership with Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. (“Kelun-Biotech”) to develop and commercialize next generation oncology therapeutics, including novel combinations. Under the terms of the collaboration, Crescent granted Kelun-Biotech exclusive rights to research, develop, and commercialize CR-001 (also known as SKB118), an investigational PD-1 x VEGF bispecific antibody, in Greater China (including mainland China, Hong Kong, Macau and Taiwan). In addition, Kelun-Biotech granted Crescent exclusive rights to research, develop, and commer...