Catalyst Biosciences, Inc.(US:CBIO) Globenewswire·2025-12-04 11:35Core Insights - Crescent Biopharma has announced a strategic partnership with Kelun-Biotech to enhance its oncology pipeline, focusing on CR-001, a PD-1 x VEGF bispecific antibody, and several antibody-drug conjugates (ADCs) [1][3][4] - The company plans to initiate clinical trials for CR-001, CR-002, and CR-003 (SKB105) in 2026, with significant data readouts expected by the end of 2027 [1][2][10] - A private placement of $185 million is set to support clinical developments and provide a cash runway into 2028 [1][16][19] Partnership Details - The partnership grants Kelun-Biotech exclusive rights to develop and commercialize CR-001 in Greater China, while Crescent retains rights for SKB105 in the U.S., Europe, and other markets [4] - Both companies can independently develop CR-001 in additional combinations, including with proprietary ADC assets [4] Pipeline Updates - CR-001 is designed to target solid tumors by blocking PD-1 and VEGF, with a Phase 1/2 trial expected to start in Q1 2026 [11][12] - CR-002 targets PD-L1 and is on track for an IND submission in mid-2026, with proof-of-concept data anticipated in late 2027 [11][19] - CR-003 (SKB105) targets integrin beta-6 and is expected to enter clinical trials in Greater China in Q1 2026, with initial data expected in Q1 2027 [11][19] Financial Overview - The private placement involves the sale of approximately 13.8 million ordinary shares at $13.41 per share, expected to close around December 8, 2025 [17][19] - The net proceeds will be used for advancing clinical development and general corporate purposes, ensuring operations are funded into 2028 [19][20] Anticipated Milestones - Key milestones include the initiation of Phase 1/2 trials for CR-001 and CR-003 in 2026, with initial combination data from CR-001 and CR-003 expected by the end of 2027 [10][14][15]