GlycoMimetics gets on the PD-1/VEGF bandwagon

GlycoMimetics’ last pivot didn’t work out, so now it’s moving to the red-hot PD-(L)1 x VEGF space, with Tuesday’s merger with Crescent Biopharma. While there are different approaches in this arena, GlycoMimetics’ ambitions are clear: its presentation noted that Crescent’s lead project, CR-001, had the “same design” as Summit/Akeso’s ivonescimab, which has arguably seen the greatest success so far. But the combined company, which is to take Crescent’s name when the deal closes next year, is well behind, expecting to file an IND in late 2025 or early 2026, with proof-of-concept data due in the second half of 2026. There are already 10 PD-(L)1 x VEGF bispecifics in the clinic, according to OncologyPipeline, and more are emerging. Crescent’s assets were originally developed by Massachusetts-based Paragon Therapeutics; they also include two topoisomerase inhibitor-based ADCs, CR-002 and CR-003, against undisclosed targets. Under the all-stock deal GlycoMimetics shareholders will own 3.1% of the new company and the group will also receive a $200m investment, expected to fund it through 2027. GlycoMimetics is still determining next steps for its previous lead, uproleselan, which flunked a phase 3 AML trial in May, and which on Tuesday was said also to have failed an NCI-sponsored first-line study.

GlycoMimetics’ new assets

Source: company presentation.