Crescent Biopharma (CBIO) TD Cowen 46th Annual Health Care Conference summary

Strategic initiatives and portfolio development

• Focused on developing a PD-1 x VEGF bispecific (CR-001) and an ADC portfolio, aiming for combination strategies in oncology solid tumors.

• Secured a major partnership with Kelun-Biotech, exchanging global rights (ex-China) for an integrin beta-6 topo ADC, strengthening the portfolio.

• Four studies across three programs are launching, including CR-001 and CR-003, with additional filings and combination studies planned for this year.

• Well-financed with a $185 million PIPE, providing runway through 2027 into 2028 and $213 million in cash.

Clinical development and data strategy

• CR-001 phase I/II study targets eight tumor types across lung, GI, and gynecologic cancers, with both monotherapy and combination arms.

• First patient dosed with CR-001 within six weeks of IND approval; first substantial data readouts expected in Q1 2027.

• Study design allows for rapid dose escalation, tumor-specific backfill, and expansion cohorts to optimize dosing and combinations.

• Endpoints include safety, PK, receptor occupancy, and preliminary antitumor activity, with a goal of >50% response rates in key cohorts.

Differentiation and innovation

• CR-001 engineered for improved stability and manufacturability, enabling higher concentration formulations and potential for subcutaneous delivery.

• Proprietary modifications aim to replicate avelumab’s efficacy and safety while enhancing commercial and clinical flexibility.

• Matrix portfolio approach leverages synergistic combinations, aiming for best-in-class opportunities in major tumor types.