Crescent Biopharma (:) 2026 Conference Transcript

Crescent Biopharma Conference Call Summary Company Overview - Company: Crescent Biopharma - Focus: Advancing life-transforming therapies for cancer treatment - Market Potential: Positioned in a market exceeding $100 billion, focusing on next-generation immuno-oncology (IO) therapies, including bispecifics, antibody-drug conjugates (ADCs), and standard care combinations [2][8] Key Products and Pipeline - CR-001: A PD-1 VEGF bispecific antibody, expected to be a best-in-class IO backbone - ADC Portfolio: Includes CR-002 (PD-L1 Topo ADC) and CR-003 (integrin beta-6 Topo ADC) - Partnership: Collaboration with Kelun-Biotech to develop CR-001 in Greater China and in-license CR-003 outside China [6][8] Clinical Development Strategy - Clinical Trials: Plans to initiate at least four clinical trials in 2026, with data expected in Q1 2027 - Funding: Secured $185 million PIPE, providing financial runway into 2028 to support clinical milestones [8][90] Competitive Positioning - Differentiation: CR-001 aims to improve upon existing PD-1 VEGF therapies by enhancing stability and concentration, with a production concentration of 150 mg/ml compared to 10 mg/ml for ivonescimab [11][12] - Global Development Focus: Initiating trials in the U.S., Europe, and APAC, addressing translatability issues between Chinese and Western patient populations [13][20] Anticipated Data and Catalysts - Upcoming Data: Expecting updates from HARMONi-2, HARMONi-6, and HARMONi-3 studies, which may provide insights into overall survival (OS) and progression-free survival (PFS) [32][34] - Learning Opportunities: Data from these studies will inform the development of CR-001 and its positioning against competitors like KEYTRUDA [34][36] ADC Strategy - Combination Approach: Focus on rationally designed ADCs targeting thoracic, GI, GynOnc, and head and neck cancers, with plans for synergistic combinations with CR-001 [52][55] - Independent Value: Each ADC (CR-002 and CR-003) is expected to have independent value, with potential for both monotherapy and combination therapy development [71][84] Financial Position - Balance Sheet: As of September 30, the company reported $246 million pro forma, ensuring funding through 2028 for clinical milestones [90] Conclusion - Strategic Vision: Crescent Biopharma is positioned to leverage its innovative therapies and partnerships to capture significant market opportunities in the oncology space, with a clear focus on generating clinical data and establishing a robust pipeline for future growth [2][8][90]