Crescent Biopharma Partners with Kelun-Biotech for Oncology Therapeutics, Raises $185M

Crescent Biopharma has partnered with Sichuan Kelun-Biotech to develop and commercialize oncology therapeutics. The deal includes exclusive rights for each company to develop and commercialize their respective candidates in specific markets. Crescent will receive an $80 million upfront payment and up to $30 million in milestones, while Kelun-Biotech will receive a $20 million upfront payment and up to $1.25 billion in milestones. The partnership also includes the development of both candidates as monotherapies and evaluation of CR-001 in combination with SKB105.