GlycoMimetics To Merge with Crescent Biopharma, Secures $200M Funding To Advance Oncology Pipeline
Portfolio Pulse from Benzinga Newsdesk
GlycoMimetics is set to merge with Crescent Biopharma, securing $200M funding to advance their oncology pipeline. The combined company will focus on Crescent's biologics for solid tumors, with key programs including CR-001, CR-002, and CR-003. The funding is expected to support operations through 2027.
October 29, 2024 | 11:25 am
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GlycoMimetics is merging with Crescent Biopharma and securing $200M funding to advance their oncology pipeline, focusing on Crescent's biologics for solid tumors.
The merger and significant funding are likely to positively impact GlycoMimetics' stock as it enhances their oncology pipeline and secures financial stability through 2027. The focus on innovative biologics for solid tumors aligns with current market trends in immuno-oncology.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 90