Innovative Cancer Drug Combination Announced by Crescent Bio

Crescent Biopharma has announced a new partnership with Kelun-Biotech to develop innovative cancer therapies. Crescent's bispecific antibody, known as CR-001, is intended to block the PD-1 and VEGF proteins, targeting solid tumors.

The collaboration allows Crescent exclusive rights 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 for CR-001 in Greater China.

Both companies plan to enter Phase 1/2 testing of their respective drugs as monotherapies in early 2026. The agreement includes financial terms where Crescent will pay Kelun-Biotech $80 million up front and potential milestone payments totaling up to $1.25 billion.

Conversely, Kelun-Biotech will pay Crescent $20 million up front and additional milestone payments up to $30 million. Crescent's CEO, Joshua Brumm, emphasized the significance of this partnership in enhancing their pipeline and advancing multiple therapeutic modalities.

The collaboration aims to generate rapid combination data, with a focus on using CR-001 as a foundational therapy alongside other proprietary ADCs. The financial backing includes a $185 million private placement to support clinical trials, with participants including Forbion and Venrock Healthcare Capital Partners.

Crescent previously reported a cash position of $133.3 million, expected to fund operations through 2027, with the recent capital expected to extend funding into 2028. The partnership is poised to improve cancer treatment options through advanced drug combinations, potentially leading to better patient outcomes.