Crescent Biopharma (CBIO) Leerink Global Healthcare Conference 2026 summary

Strategic overview and portfolio focus

• Advancing a matrix portfolio across IO assets, ADCs, and standard of care combinations in thoracic, gynecologic, GI, and head and neck cancers.

• CR-001, a PD-1/VEGF bispecific, is positioned as a potential best-in-class next-generation IO backbone.

• ADC portfolio includes CR-002 (PD-L1 Topo ADC), CR-003 (integrin beta-6 Topo ADC), and CR-004 (undisclosed target), with novel combinations planned.

• Partnership with Kelun-Biotech enables access to integrin beta-6 ADC outside Greater China and allows Kelun to develop CR-001 in China.

• Multiple first-in-class opportunities targeted in solid tumors, with a focus on indications lacking late-stage trials outside China.

Clinical development and timelines

• On track to initiate more clinical trials in 2026, with key readouts expected in Q1 2027.

• Well-funded through 2028 following a recent capital raise.

• Parallel data generation planned in both Western and Chinese populations, leveraging joint steering committee for data sharing.

• Phase I/II ASCEND study for CR-001 will assess safety, PK, pharmacodynamics, and antitumor activity in eight prioritized tumor types.

• Kelun to run monotherapy and combination studies with CR-001 and their ADCs in China, accelerating data generation.

Partnership structure and incentives

• Structured agreement with Kelun aligns incentives, including milestone payments and a descending percentage of any change of control transaction.

• Data sharing provisions allow both parties to benefit from clinical insights and accelerate development.

• Kelun’s experience with multinational pharma partners like Merck seen as a strategic advantage.