Overview
- Crescent granted Kelun-Biotech exclusive rights to develop and commercialize CR-001 in Greater China, while Kelun-Biotech granted Crescent exclusive rights to SKB105 (CR-003) outside Greater China.
- Kelun-Biotech will receive $80 million upfront plus up to $1.25 billion in milestones and tiered royalties, and Crescent will receive $20 million upfront plus up to $30 million in milestones and tiered royalties.
- CR-001, a tetravalent PD-1 x VEGF bispecific antibody, and SKB105, an ITGB6-targeting topoisomerase ADC, are expected to start Phase 1/2 monotherapy trials in the first quarter of 2026.
- The companies guide to proof-of-concept data for CR-001 and SKB105 in the first quarter of 2027, with initial combination readouts by late 2027.
- Crescent announced a $185 million private placement expected to close on or about December 8, 2025, with proceeds intended to fund development and extend cash runway into 2028.