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Forged in Fire: Crescent Biopharma Ignites Cancer Fight with Landmark Merger & $200M War Chest!

James Thomas•Jun 16, 2025
A dynamic graphic showing the Crescent Biopharma logo emerging from a stylized fusion of two entities, with light rays or energy bursts signifying innovation and the $200M funding, against a backdrop suggesting advanced molecular science targeting cancer cells.
  • New Powerhouse Born: Crescent Biopharma and GlycoMimetics have officially merged, now trading on Nasdaq as "CBIO."
  • Massive Financial Backing: A staggering $200 million private placement, led by healthcare investment titans, fuels the new entity.
  • Revolutionary Pipeline: Aiming to unleash the next wave of cancer therapies, with lead program CR-001 poised for rapid advancement.

WALTHAM, Mass. – June 16, 2025 – In a seismic shift for the oncology landscape, Crescent Biopharma today announced the monumental completion of its merger with GlycoMimetics, Inc., simultaneously unleashing the power of a $200 million private financing6. This bold move, approved by GlycoMimetics stockholders on June 5, 20251, 2, catapults the newly unified Crescent Biopharma, Inc. onto the Nasdaq Capital Market under the ticker "CBIO," effective today6.

This isn't just a merger; it's the forging of a new titan. Fueled by a formidable syndicate of healthcare-focused investors including Fairmount, Venrock Healthcare Capital Partners, and BVF Partners, the $200 million infusion (which includes the conversion of $37.5 million in prior notes6) provides a robust financial runway through 2027. Following a 1-for-100 reverse stock split of GlycoMimetics shares and the share conversion (0.1445 combined company shares per Crescent share), former Crescent holders now command approximately 97.4% of the combined entity7.

"With our seasoned team, promising pipeline, and solid financial foundation... Crescent is well-positioned to lead the next wave of therapeutic innovation for people living with cancer," declared Joshua Brumm, CEO of Crescent. The company is charging ahead with CR-001, a PD-1 x VEGF bispecific antibody designed to emulate the clinically validated success of ivonescimab6. An IND submission is slated for Q4 2025, with patient dosing in a global Phase 1 trial anticipated in early 2026.

The arsenal extends to novel antibody-drug conjugates (ADCs), CR-002 and CR-003, with CR-002 targeting clinic entry by mid-2026. Crescent Biopharma is not just aiming to compete; it's aiming to redefine cancer treatment.

References

  1. www.tipranks.com
  2. ir.glycomimetics.com
  3. investors.crescentbiopharma.com
  4. ir.glycomimetics.com
  5. www.bioworld.com
  6. www.gurufocus.com
  7. www.investing.com
  8. www.investing.com

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