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Crescent Biopharma Appoints David Lubner to Board of Directors

1. Crescent Biopharma appointed David Lubner to its board, enhancing corporate strategy. 2. Crescent is focused on solid tumors and advancing its drug programs. 3. Crescent's lead program CR-001 aims for IND submission in Q4 2025. 4. Acquisition agreement with GlycoMimetics expected to close in Q2 2025. 5. The newly combined company will be named Crescent Biopharma post-acquisition.

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Why Bullish?

The acquisition of GlycoMimetics by Crescent could enhance GLYC's product pipeline and market position. Historically, mergers in biotech often lead to increased market valuations, as seen in the case of Ra Pharmaceuticals and UCB.

How important is it?

With the acquisition potentially enhancing the combined company's capabilities and market reach, GLYC is poised for growth momentum. The leadership expertise introduced by David Lubner is also likely to instill investor confidence.

Why Short Term?

The anticipated closing of the acquisition in Q2 2025 will likely lead to immediate market reactions. Investor confidence often peaks around the completion of strategic mergers.

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April 28, 2025 07:30 ET  | Source: Crescent Biopharma Industry Veteran Brings 30 Years of Experience in Finance, Strategy and Operations WALTHAM, Mass., April 28, 2025 (GLOBE NEWSWIRE) -- Crescent Biopharma, Inc. (“Crescent”), a private biotechnology company developing novel precision-engineered molecules targeting validated biology to advance care for patients with solid tumors, today announced the appointment of David Lubner to its board of directors.   “David brings extensive experience in senior executive and board roles with particular expertise in finance, operations and corporate strategy,” said Peter Harwin, chairman of Crescent’s Board of Directors. “His contributions to Crescent will be instrumental as we continue to grow, advance our tetravalent PD-1 x VEGF bispecific antibody and ADC programs for multiple solid tumors, and ultimately build a world leading oncology company.”   “With an exciting pipeline, experienced management and support from leading biotechnology investors, Crescent is well-positioned to usher in the next wave of innovation in cancer therapy,” said Mr. Lubner. “I look forward to collaborating with Crescent’s Board and executive team to deliver potentially best-in-class therapeutics for solid tumors that can transform the standard of care for patients.” David Lubner is a seasoned finance executive with 30 years of experience in the life sciences industry. Mr. Lubner served as executive vice president and chief financial officer (CFO) of Ra Pharmaceuticals, acquired by UCB in 2020. Prior to that, he was CFO of Tetraphase Pharmaceuticals and was previously CFO of PharMetrics until it was acquired by IMS Health. He also held the CFO position at ProScript, where Velcade®, a therapy widely used for the treatment of multiple myeloma, was discovered. Mr. Lubner currently serves on the boards of directors of Arcellx, Cargo Therapeutics, Dyne Therapeutics and Vor Biopharma as well as several private companies. He previously served on the board of directors of Nightstar Therapeutics, until it was acquired by Biogen, and Point Biopharma, until its acquisition by Eli Lilly & Company. Mr. Lubner received his B.S. in business administration from Northeastern University and an M.S. in taxation from Bentley University. Crescent is developing novel precision-engineered molecules to improve outcomes for patients with solid tumors. Crescent’s lead program, CR-001, a tetravalent PD-1 x VEGF bispecific antibody, is on track for an Investigational New Drug (IND) application submission in the fourth quarter of 2025. In October 2024, Crescent entered into an acquisition agreement with GlycoMimetics, Inc. (Nasdaq: GLYC). Following closing, which is anticipated in the second quarter of 2025, the combined company will operate under the name Crescent Biopharma and advance Crescent’s portfolio. About Crescent Biopharma Crescent Biopharma, Inc. is a biotechnology company advancing novel precision-engineered molecules to advance care for patients with solid tumors. The Company’s pipeline of three programs harnesses validated biology to accelerate the path to market for potentially best-in-class therapeutics. Crescent’s lead program is CR-001, a tetravalent PD-1 x VEGF bispecific antibody, and it is also advancing CR-002 and CR-003, antibody drug conjugates with topoisomerase inhibitor payloads for undisclosed targets. For more information, visit www.crescentbiopharma.com and follow us on LinkedIn. Contact Amy ReillyChief Communications Officeramy.reilly@crescentbiopharma.com617-465-0586

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