Overview
- Crescent granted Kelun-Biotech exclusive Greater China rights to CR-001, a PD-1 x VEGF bispecific, and received ex-China rights to Kelun’s ADC SKB105 (CR-003).
- Pharmaceutical Technology reports Crescent will pay $80 million upfront and up to $1.25 billion in milestones for SKB105, while Kelun will pay $20 million and up to $30 million in milestones for CR-001, with royalties tied to future sales.
- Crescent expects CR-001, CR-002 and CR-003 to enter the clinic in 2026, with initial proof-of-concept readouts targeted for 2027; Phase I/II trials for CR-001 and SKB105 are anticipated to start in early 2026.
- According to the companies, CR-001’s anti-VEGF activity could enhance localization for combination regimens, including co-administration with antibody‑drug conjugates.
- Crescent announced a $185 million private placement targeted to close around December 8 with specialist healthcare investors, guiding that the proceeds extend its cash runway into 2028.