GlycoMimetics, Inc. (NASDAQ: GLYC) announces it has entered into an acquisition agreement with Crescent Biopharma, Inc. (“Crescent”), a privately held biotechnology company advancing a pipeline of oncology therapeutics designed to treat solid tumors. Upon completion of the transaction, the Company plans to operate under the name Crescent Biopharma, Inc. In support of the acquisition, a syndicate of investors has committed $200 million to purchase GlycoMimetics common stock and GlycoMimetics pre-funded warrants to purchase its common stock.
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Source: https://www.businesswire.com/news/home/20241029550680/en/GlycoMimetics-Enters-Into-Acquisition-Agreement-With-Crescent-Biopharma