Crescent Biopharma (CBIO) Stifel 2026 Targeted Oncology Virtual Forum summary

Strategic focus and portfolio development

• Advancing a matrix portfolio centered on next-generation IO agents and ADCs, with synergistic combinations as a core strategy.

• Key assets include CR-001 (PD-1/VEGF bispecific), CR-002 (PD-L1 TOPO ADC), and CR-003 (integrin beta-6 TOPO ADC, in-licensed from Kelun).

• Kelun partnership accelerates development, providing access to a broad ADC portfolio and data for combination strategies.

• Focused on building leadership in the field over the past 12–15 months, cementing position through portfolio and pipeline execution.

Clinical development and data strategy

• ASCEND global phase I/II trial for CR-001 designed to generate comprehensive data for dose selection and registration-enabling studies.

• Initial data disclosure from ASCEND expected in Q1 2027, with three main data buckets: monotherapy, combination with chemo, and combination with ADCs.

• Data from ASCEND and Kelun collaborations will inform future registrational study indications and strategic direction.

• Indication selection will be data-driven, balancing internal results with competitive landscape to maximize first- and best-in-class opportunities.

Industry context and competitive landscape

• Monitoring key competitor data at ASCO, especially HARMONi-6 OS results, which could validate the PD-1 VEGF bispecific class.

• Positive OS benefit in HARMONi-6 would be highly validating for the field, especially if safety profile remains favorable.

• Multiple phase III trials and significant pharma investment underscore the momentum in the PD-1 bispecific and ADC space.