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Crescent Biopharma (Nasdaq: CBIO) announced inducement option awards to three non-executive employees under its 2025 Employment Inducement Incentive Award Plan.
The Board approved an aggregate of 129,626 options on December 13, 2025, and the options were granted on December 15, 2025. Each option has a 10-year term and an exercise price of $13.21, equal to the Nasdaq closing price on December 15, 2025. Vesting is 25% after the first anniversary of each employee’s start date, then monthly at 1/48th thereafter, subject to continuous service and the Inducement Plan terms.
Crescent Biopharma (Nasdaq: CBIO) announced an exclusive strategic partnership with Kelun-Biotech and a $185 million private placement expected to close on or about December 8, 2025. The financing of 13,795,685 ordinary shares at $13.41 per share (and pre-funded warrants) is expected to provide cash runway into 2028. The collaboration grants Kelun rights to CR-001 in Greater China and grants Crescent rights to SKB105 (CR-003) outside Greater China.
Pipeline milestones: global Phase 1/2 start for CR-001 in Q1 2026 with proof-of-concept data in Q1 2027; CR-003 (SKB105) Phase 1/2 in Q1 2026 with PoC in Q1 2027; CR-002 IND planned mid-2026 with PoC in H2 2027; initial ADC combination data expected by year-end 2027.
Crescent Biopharma (Nasdaq: CBIO) and Kelun-Biotech (6990.HK) announced a strategic oncology partnership to develop and commercialize Crescent’s CR-001 (PD-1 x VEGF bispecific) and Kelun’s SKB105 (ITGB6-directed ADC).
Key terms: CR-001 and SKB105 are planned to enter Phase 1/2 monotherapy trials in Q1 2026; Kelun receives US$80M upfront plus up to US$1.25B in milestones and tiered royalties for SKB105 rights in Greater China; Crescent receives US$20M upfront plus up to US$30M in milestones and royalties for CR-001 rights outside Greater China. The collaboration includes monotherapy and combination development and cross‑territory exclusive commercial rights.
Crescent Biopharma (Nasdaq: CBIO) announced that its independent Compensation Committee approved inducement option awards for eight non-executive employees totaling 451,448 options, approved on November 14, 2025.
The options have a 10-year term, an exercise price of $13.02 per share (Crescent's Nasdaq closing price on November 14, 2025), and vest 25% on the first anniversary of each employee's start date with the remainder vesting 1/48th monthly thereafter, subject to continuous service and the Inducement Plan terms. The grants were described as material to each employee's acceptance under Nasdaq Listing Rule 5635(c)(4).
Crescent Biopharma (Nasdaq: CBIO) reported third quarter 2025 results and pipeline progress on Nov 6, 2025. Key clinical milestones include an IND submission for CR-001 (PD-1 x VEGF bispecific) on track for Q4 2025 to support a global Phase 1 trial starting in Q1 2026, with proof-of-concept data expected in H2 2026. Preclinical CR-001 data will be presented at SITC on Nov 7, 2025. Crescent also plans an IND for CR-002 (ADC) in mid-2026 and continues development of CR-003.
Financials: cash of $133.3M as of Sept 30, 2025 (expected to fund operations through 2027), R&D expense of $20.3M, G&A expense of $5.5M, net loss of $24.6M ($1.27 per share) for Q3 2025, and ~19.6M shares outstanding.
Crescent Biopharma (Nasdaq: CBIO) announced management will present at three investor conferences in November 2025: a fireside chat at the Guggenheim 2nd Annual Healthcare Innovation Conference on Nov 11, 2025 at 8:00 a.m. ET in Boston; a fireside chat at the Stifel 2025 Healthcare Conference on Nov 12, 2025 at 1:20 p.m. ET in New York; and a fireside chat at the Jefferies Global Healthcare Conference on Nov 19, 2025 at 9:30 a.m. GMT (4:30 a.m. ET) in London.
Each presentation will be livestreamed from Crescent's investor website and a replay will be accessible for 90 days.
Crescent Biopharma (NASDAQ: CBIO) will present preclinical data for CR-001, a tetravalent PD-1 x VEGF bispecific antibody, at the Society for Immunotherapy of Cancer 40th Annual Meeting on November 7-9, 2025.
Key points: CR-001 showed cooperative pharmacology in vitro with increased PD-1 binding in the presence of VEGF, augmented PD-1/PD-L1 blockade, enhanced T-cell activation, potent anti-tumor activity in a xenograft model, and good tolerability plus robust PD-1 receptor occupancy in non-human primates. Crescent says an IND submission is on track for Q4 2025 to support a global Phase 1 trial planned to begin in Q1 2026. The poster (Abstract 1185) will be available on SITC and on Crescent’s website beginning 9:00 a.m. ET on the presentation day.
Crescent Biopharma (Nasdaq: CBIO), a biotechnology company focused on cancer therapies, has announced its participation in two major healthcare investor conferences in September 2025.
The company will participate in a fireside chat at the Cantor Global Healthcare Conference on September 4, 2025, at 1:00 p.m. ET, and at the Morgan Stanley 23rd Annual Global Healthcare Conference on September 8, 2025, at 5:35 p.m. ET. Both events will take place in New York.
Webcasts will be available on the company's investor relations website, with replays accessible for 90 days.
Crescent Biopharma (NASDAQ:CBIO) reported Q2 2025 financial results and significant corporate developments. The company completed a merger with GlycoMimetics and secured a $200 million private financing. Under new leadership, including CEO Joshua Brumm, Crescent is advancing its cancer therapeutics pipeline.
The company's lead program, CR-001, a PD-1 x VEGF bispecific antibody, is progressing toward IND submission in Q4 2025, with proof-of-concept data expected in H2 2026. Two additional ADC programs, CR-002 and CR-003, are in development. Financial results show a cash position of $152.6 million, expected to fund operations through 2027, with a quarterly net loss of $21.8 million.
Crescent Biopharma (NASDAQ:CBIO) has appointed Jan Pinkas, Ph.D. as Chief Scientific Officer. Dr. Pinkas brings over 20 years of experience in oncology drug development, with expertise in antibody-drug conjugates (ADCs) and translational research.
The appointment comes at a crucial time as Crescent prepares to advance two key programs: CR-001, a PD-1 x VEGF bispecific antibody expected to begin Phase 1 trials in early 2026, and CR-002, a novel ADC with planned IND submission in mid-2026. Dr. Pinkas previously served as CSO at Pyxis Oncology and held senior positions at Magenta Therapeutics and ImmunoGen, where he contributed to the development of ELAHERE® for ovarian cancer and SARCLISA® for multiple myeloma.
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