Crescent Biopharma, Inc., was incorporated in Delaware in 2003, and the company's place of incorporation was changed from Delaware to the Cayman Islands on June 16, 2025. The company is a clinical-stage biotechnology company focused on delivering transformative therapies to cancer patients. Crescent Biopharma aims to become a leading oncology biotechnology company through two major strategies: first, the development of CR-001, a PD-1 x VEGF bispecific antibody designed to simultaneously target PD-1 immune checkpoint and vascular endothelial growth factor (VEGF), which is expected to replace pembrolizumab as the underlying therapeutic drug; and second, the construction of a powerful antibody-drug conjugate (ADC) product portfolio. The company plans to use CR-001 in combination with ADC therapy to form a synergistic combination therapy with the goal of improving the treatment of multiple cancers. The global Phase 1/2 trial of CR-001 (i.e. ASCEND trial) was launched in February 2026, and further clinical trials of CR-002 and CR-003 are expected to start in the same year.
