Crescent Bio and Kelun Biotech Alliance Targets Cancer Treatments

Crescent Biopharma has announced a new partnership with Kelun Biotech that targets advancements in cancer treatment through the development of drug combinations. Crescent's lead asset, a bispecific antibody code-named CR-001, is designed to block the proteins PD-1 and VEGF, which are critical in tumor growth.

The collaboration allows Crescent to develop and commercialize Kelun's antibody drug conjugate, SKB105, in the U.S., Europe, and other markets outside of Greater China, while granting Kelun exclusive rights in Greater China for CR-001.

Both companies plan to initiate Phase 1/2 testing for their respective drugs as monotherapies for solid tumors in early 2026. Crescent's CEO, Joshua Brumm, emphasized that the addition of SKB105 to their pipeline enhances their strategy of advancing multiple therapeutic modalities and supports the pursuit of synergistic combinations.

Under the terms of the deal, Crescent will pay Kelun Biotech $80 million upfront and up to $1.25 billion in milestone payments, while Kelun will pay Crescent $20 million upfront and up to $30 million tied to milestones.

Additionally, Crescent has secured $185 million through a private placement to support clinical trials expected to begin in 2027, which includes preliminary data for CR-001 as a monotherapy and in combination therapies.

Crescent's cash position is projected to last into 2028 following this placement, enhancing their development capabilities in the oncology space. The partnership underscores the growing trend of biopharmaceutical companies leveraging innovative drug combinations to improve cancer treatment outcomes, particularly with bispecific antibodies gaining traction in the market.