[SCHEDULE 13G] GlycoMimetics, Inc. SEC Filing

Rhea-AI Filing Summary

Schedule 13G filing: Venrock Healthcare Capital Partners III, L.P. and affiliated funds, together with individuals Nimish Shah and Bong Y. Koh (collectively, the “Reporting Persons”), disclosed ownership of 1,391,196 ordinary shares of Crescent Biopharma, Inc. (CUSIP 38000Q201) as of 13 June 2025. This holding represents 9.9 % of the company’s outstanding shares. The Reporting Persons hold shared voting and shared dispositive power over the entire position; no sole voting or dispositive power is reported. All entities are Delaware-organized, while Shah and Koh are U.S. citizens. The filing was made pursuant to Rule 13d-1(c), suggesting a passive investment stance. No sale or purchase transactions, price data, or changes from prior ownership levels were disclosed.

Positive

• Venrock-affiliated funds and principals now hold 9.9 % of Crescent Biopharma’s shares, signalling institutional interest from a respected life-sciences investor

Negative

• None.

Insights

Financial Analyst

TL;DR: Venrock funds quietly own 9.9 % of Crescent Biopharma; passive stake, no transaction data—moderately supportive but not transformational.

Venrock is a well-known life-sciences investor. This 13G shows its healthcare funds control just under the 10 % reporting threshold, giving them meaningful influence without triggering activist obligations. Shared voting/dispositive power across seven related entities centralises decision-making, but the Rule 13d-1(c) designation implies no current intent to influence control. For investors, the presence of a sophisticated biotech investor can be viewed as a vote of confidence in Crescent Biopharma’s prospects, yet the lack of buying/selling detail limits insight into momentum or valuation signals. With no financial or strategic updates included, market impact should be modest and primarily sentiment-driven.

Corporate Governance Expert

TL;DR: Venrock group declares sub-10 % stake; governance impact low, but potential alignment with management.

By staying below 10 %, Venrock avoids Schedule 13D activism requirements while still holding a blocking minority for certain corporate actions that need super-majority votes. The shared power structure simplifies internal coordination and limits fragmentation risk. No governance demands accompany the filing, so immediate board or policy changes are unlikely. Nevertheless, the concentration of nearly one-tenth of shares in a single venture group could become influential in future proxy matters or funding rounds.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Crescent Biopharma, Inc.

(Name of Issuer)

Ordinary Shares, $0.001 par value per share

(Title of Class of Securities)

38000Q201

(CUSIP Number)

06/13/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 38000Q201

1

Names of Reporting Persons

Venrock Healthcare Capital Partners III, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,391,196.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,391,196.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,391,196.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.9 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP No. 38000Q201

1

Names of Reporting Persons

VHCP Co-Investment Holdings III, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,391,196.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,391,196.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,391,196.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.9 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP No. 38000Q201

1

Names of Reporting Persons

Venrock Healthcare Capital Partners EG, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,391,196.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,391,196.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,391,196.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.9 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP No. 38000Q201

1

Names of Reporting Persons

VHCP Management III, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,391,196.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,391,196.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,391,196.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.9 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP No. 38000Q201

1

Names of Reporting Persons

VHCP Management EG, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,391,196.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,391,196.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,391,196.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.9 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP No. 38000Q201

1

Names of Reporting Persons

Nimish Shah

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,391,196.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,391,196.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,391,196.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.9 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP No. 38000Q201

1

Names of Reporting Persons

Bong Y. Koh

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,391,196.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,391,196.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,391,196.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.9 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Crescent Biopharma, Inc.
(b)	Address of issuer's principal executive offices: 300 Fifth Avenue, Waltham, MA, 20850.
Item 2.
(a)	Name of person filing: The names of the persons filing this report (collectively, the "Reporting Persons") are: Venrock Healthcare Capital Partners III, L.P. ("VHCP III") VHCP Co-Investment Holdings III, LLC ("VHCP Co-Investment III") Venrock Healthcare Capital Partners EG, L.P. ("VHCP EG") VHCP Management III, LLC ("VHCP Management III") VHCP Management EG, LLC ("VHCP Management EG") Nimish Shah ("Shah") Bong Koh ("Koh") The Reporting Persons are members of a group for the purposes of this Schedule 13G.
(b)	Address or principal business office or, if none, residence: New York Office: 7 Bryant Park, 23rd Floor New York, NY 10018 Palo Alto Office: 3340 Hillview Avenue Palo Alto, CA 94304
(c)	Citizenship: All of the entities were organized in Delaware. Shah and Koh are both United States citizens.
(d)	Title of class of securities: Ordinary Shares, $0.001 par value per share
(e)	CUSIP No.: 38000Q201
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: Row 9 of each Reporting Person's cover page to this Schedule 13G sets forth the aggregate number of shares of securities of the Issuer beneficially owned by such Reporting Person and is incorporated by reference. The Reporting Persons' ownership of the Issuer's securities consists of (i) 273,808 ordinary shares and pre-funded warrants (the "Pre-Funded Warrants") exercisable for up to 107,374 ordinary shares held by VHCP III; (ii) 27,381 ordinary shares and Pre-Funded Warrants exercisable for up to 10,737 ordinary shares held by VHCP Co-Investment III; and (iii) 1,056,676 ordinary shares and Pre-Funded Warrants exercisable for up to 414,377 ordinary shares held by VHCP EG. The Pre-Funded Warrants contain a provision (the "Beneficial Ownership Blocker"), which precludes the exercise of the Warrants to the extent that, following exercise, VHCP III, VHCP Co-Investment III and VHCP EG, together with their affiliates and other attribution parties, would own more than 9.99% of the outstanding ordinary shares. VHCP III, VHCP Co-Investment III and VHCP EG are currently prohibited from exercising the Pre-Funded Warrants to the extent that such exercise would result in beneficial ownership of more than 1,391,196 ordinary shares. VHCP Management III is the general partner of VHCP III and the manager of VHCP Co-Investment III. VHCP Management EG is the general partner of VHCP EG. Messrs. Shah and Koh are the voting members of VHCP Management III and VHCP Management EG.
(b)	Percent of class: Due to the Beneficial Ownership Blocker listed in the Pre-Funded Warrants, each Reporting Person's beneficial ownership percentage is 9.99%. Such percentage is based upon the sum of (i) 13,892,562 outstanding ordinary shares as of June 13, 2025, as disclosed in the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission (the "SEC") on June 18, 2025 and (ii) 33,331 ordinary shares issuable upon the exercise of the Pre-Funded Warrants. Due to field limitations of the EDGAR filing system, the percentages listed in Row 11 of the Reporting Persons' cover pages have been rounded down to 9.9%.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Row 5 of each Reporting Person's cover page to this Schedule 13G sets forth the sole power to vote or to direct the vote of securities of the Issuer beneficially owned by such Reporting Person and is incorporated by reference.
	(ii) Shared power to vote or to direct the vote: Row 6 of each Reporting Person's cover page to this Schedule 13G sets forth the shared power to vote or to direct the vote of securities of the Issuer beneficially owned by such Reporting Person and is incorporated by reference.
	(iii) Sole power to dispose or to direct the disposition of: Row 7 of each Reporting Person's cover page to this Schedule 13G sets forth the sole power to dispose or to direct the disposition of securities of the Issuer beneficially owned by such Reporting Person and is incorporated by reference.
	(iv) Shared power to dispose or to direct the disposition of: Row 8 of each Reporting Person's cover page to this Schedule 13G sets forth the shared power to dispose or to direct the disposition of securities of the Issuer beneficially owned by such Reporting Person and is incorporated by reference.
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

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.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Venrock Healthcare Capital Partners III, L.P.

Signature:	/s/ Sherman G. Souther
Name/Title:	By VHCP Management III, LLC, its General Partner, By Sherman G. Souther, Authorized Signatory
Date:	06/23/2025

VHCP Co-Investment Holdings III, LLC

Signature:	/s/ Sherman G. Souther
Name/Title:	By VHCP Management III, LLC, its Manager, By Sherman G. Souther, Authorized Signatory
Date:	06/23/2025

Venrock Healthcare Capital Partners EG, L.P.

Signature:	/s/ Sherman G. Souther
Name/Title:	By VHCP Management EG, LLC, its General Partner, By Sherman G. Souther, Authorized Signatory
Date:	06/23/2025

VHCP Management III, LLC

Signature:	/s/ Sherman G. Souther
Name/Title:	By Sherman G. Souther, Authorized Signatory
Date:	06/23/2025

VHCP Management EG, LLC

Signature:	/s/ Sherman G. Souther
Name/Title:	By Sherman G. Souther, Authorized Signatory
Date:	06/23/2025

Nimish Shah

Signature:	/s/ Sherman G. Souther
Name/Title:	By Sherman G. Souther, Attorney-in-fact
Date:	06/23/2025

Bong Y. Koh

Signature:	/s/ Sherman G. Souther
Name/Title:	By Sherman G. Souther, Attorney-in-fact
Date:	06/23/2025

Exhibit Information

Exhibit 24.1 Power of Attorney for Bong Koh Exhibit 24.2 Power of Attorney for Nimish Shah Exhibit 99.1 Joint Filing Agreement

FAQ

How many Crescent Biopharma (CUSIP 38000Q201) shares does Venrock own?

The group reports 1,391,196 ordinary shares, equal to 9.9 % of the outstanding class.

Does Venrock have sole voting power over its Crescent Biopharma stake?

No. The filing lists 0 shares with sole voting power; all voting and dispositive power is shared among the Reporting Persons.

Why was this disclosure filed as a Schedule 13G instead of 13D?

The Reporting Persons filed under Rule 13d-1(c), indicating a passive investment with no intent to influence control.

What percentage of Crescent Biopharma’s stock does Venrock’s position represent?

The stake represents 9.9 % of the outstanding ordinary shares.

Are there any transaction details or purchase prices disclosed?

No. The Schedule 13G does not provide transaction dates, prices, or changes from prior holdings.