GlycoMimetics Inc (NASDAQ:GLYC), a late clinical-stage biotechnology company discovering and developing glycobiology-based therapies for cancers, including AML, and for inflammatory diseases, announced on Tuesday that it has entered into an acquisition agreement with privately held biotechnology company Crescent Biopharma Inc.

The combined company will focus on advancing Crescent's pipeline of oncology therapeutics, including the tetravalent PD-1 x VEGF bispecific antibody CR-001 which is expected to have preliminary proof of concept data in the second half of 2026. Additionally, Crescent is developing two novel antibody-drug conjugates with topoisomerase inhibitor payloads, CR-002 and CR-003.

A syndicate of investors has committed USD200m to fund operations through 2027.

Pre-acquisition GlycoMimetics stockholders are expected to own approximately 3.1% of the combined company, with the pre-acquisition Crescent stockholders owning approximately 96.9%.