Crescent Biopharma Completes Merger, Commencing Trading on Nasdaq
Deal News | Jun 16, 2025 | Globenewswire
Crescent Biopharma has finalized its merger with GlycoMimetics and raised $200 million through a private placement to bolster its oncology pipeline. The merged entity, now trading under the ticker CBIO on Nasdaq, focuses on advancing therapies like its PD-1 x VEGF bispecific antibody, CR-001, with planned clinical trials and major milestones projected over the next three years. With substantial backing from renowned healthcare investors, Crescent aims to develop transformative cancer treatments. The company’s financials are expected to support its operations until 2027, targeting crucial pipeline developments.
Sectors
- Biotechnology
- Pharmaceuticals
- Private Equity & Venture Capital
Geography
- United States – Crescent Biopharma is headquartered in Waltham, Massachusetts, and the company is trading on the U.S.-based Nasdaq exchange.
Industry
- Biotechnology – Crescent Biopharma and its focus on developing biopharmaceuticals, particularly cancer therapies, place it firmly within the biotechnology industry.
- Pharmaceuticals – The article centers around the development and planned trials of novel cancer drugs, aligning with the pharmaceutical industry's focus on therapeutic advancements.
- Private Equity & Venture Capital – The significant investment backing for Crescent Biopharma's financing round highlights the role of private equity and venture capital in funding biopharmaceutical innovations.
Financials
- 200000000 – Total gross proceeds from the private placement funding round supporting Crescent Biopharma's operations and development pipeline.
- 37500000 – Value of previously issued convertible notes converted as part of the financing.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Crescent Biopharma, Inc. | Target Company | Company | A biotechnology company focused on advancing cancer therapies. |
| GlycoMimetics, Inc. | Selling Company | Company | A company involved in the merger with Crescent to form a combined biotech entity. |
| Fairmount | Investor | Company | Led the $200 million private placement funding round for Crescent. |
| Venrock Healthcare Capital Partners | Investor | Company | Participated in the private placement funding for Crescent. |
| BVF Partners | Investor | Company | Participated in the private placement funding for Crescent. |
| Large Institutional Investor | Investor | Company | Unspecified participant in the private placement funding. |