GlycoMimetics, Inc.

Paragon Therapeutics, a company that spins out antibody biotechs, has forged a second reverse merger for its portfolio this week. Its autoimmune spinoff Jade Biosciences will take the Nasdaq spot of Aerovate Therapeutics in an all-stock deal, the companies said Thursday morning. The move comes two days after Paragon’s PD-1xVEGF startup Crescent Biopharma emerged and immediately said it would take the public position spot of GlycoMimetics. Paragon’s other children, Spyre and Oruka, also went through reverse mergers. Only Apogee Therapeutics has gone the traditional IPO route. Jade unveiled two months ago with $80 million and a chief scientific officer, Andrew King, who was previously in the same role at kidney disease biotech Chinook Therapeutics. Jade said last week it is being led by CEO Tom Frohlich . The combined company will trade as $JBIO and focus on Jade’s pipeline of biologics, including a lead program in the hot area of IgA nephropathy , a chronic kidney disease that has seen multiple recent FDA approvals, financings and acquisitions. The lead asset, JADE-001, is an anti-APRIL monoclonal antibody that will begin clinical trials in the second half of 2025. It has two other preclinical antibodies for undisclosed diseases. Jade also disclosed a $300 million financing that will support R&D and operations “through 2027,” which will get JADE-001 to proof-of-concept data, the company said. Jade stockholders will own about 98% of the combined entity, and Aerovate will pay a dividend of about $65 million to its pre-merger stockholders right before the deal closes, which is anticipated in the first half of next year. Aerovate laid off nearly all its staff this summer after failing a mid-stage test in pulmonary arterial hypertension.

10月28日，总部位于英国的Ottimo Pharma走出隐形模式。 前Seagen公司的首席执行官David Epstein，在辉瑞以430亿美元收购Seagen后，现已加入一个新的生物技术公司Ottimo Pharma。 Ottimo Pharma还任命了前罗氏高管、现任BioMarin首席商务官James Sabry为副主席，以及勃林格殷格翰的资深人士Mehdi Shahidi为首席医学官。 Ottimo Pharma在过去三年中一直致力于Jankistomig的临床前开发，Jankistomig是一种双功能抗体，靶向PD1和VEGFR2，这两种受体参与帮助肿瘤生长和逃避免疫系统的分子途径。Ottimo Pharma一直在对该分子进行全面的临床前表征，并预计在2025年底提交IND。 10月29日，GlycoMimetics宣布已与Crescent Biopharma 公司达成收购协议。交易完成后，公司计划以Crescent Biopharma的名义运营，推进旨在治疗实体瘤的肿瘤疗法。Crescent Biopharma的主导项目CR-001是一款PD-1 x VEGF双特异性抗体。 Crescent是第五家利用 Paragon Therapeutics 发现和开发的资产上市的公司。Paragon此前孵化了Apogee Therapeutics、SPYRE THERAPEUTICS、ORUKA THERAPEUTICS和JADE BIOSCIENCES多个自免药物开发上市公司。 Crescent Biopharma 管线 Crescent Biopharma注与实体瘤药物的开发，目前管线中装入了三款药物: PD-1/VEGF双抗CR-001，另外两款为拓扑异构酶的ADC药物 CR-002 和 CR-003。 CR-001是一种四价PD-1 x VEGF双特异性抗体，其形式和药理学与康方生物的ivonescimab相匹配。与目前的市场领导者pembrolizumab相比，ivonescimib具有更优的疗效。该公司预计 CR-001 的 IND 将于 2025 年Q4或 2026 年Q1提交，患者的中期 1 期数据预计将于 2026 年下半年获得。 除了 CR-001，Crescent还在开发 CR-002 和 CR-003，它们是使用拓扑异构酶抑制剂有效载荷针对未公开靶点的抗体-药物偶联物 (ADC)；与具有替代有效载荷的 ADC 相比，具有拓扑异构酶抑制剂有效载荷的 ADC 显示出更高的疗效和安全性。CR-002 是 Crescent 的首个 ADC 项目，旨在成为同类最佳项目，预计将于 2026 年启动第 1 阶段；Crescent计划在项目进入临床阶段时披露 CR-002 的目标。 该交易预计将于 2025 年Q2完成。预计公司交割时的现金余额将为2027年的运营提供资金，包括推进公司的主要项目 CR-001，预计在 2026 年下半年通过对实体瘤患者的初步概念验证临床数据进行推进。 PD-1/VEGF潜力巨大。去年11月，BioNTech超10亿美元引进普米斯PD-L1/VEGF双抗，2024年9月，该双抗产品PM8002注射液的新药研究申请（IND）成功获得CDE的批准。目前，PM8002注射液已在国内针对TNBC、SCLC、非小细胞肺癌（NSCLC）等多个瘤种开展了多项临床试验研究，相关临床研究数据也陆续在重要的国际学术会议上发布，展示了其广阔的应用前景和潜在的巨大临床价值。超10亿美元，BioNTech引进普米斯PD-L1/VEGF双抗 今年5月，康方生物宣布，全球首创PD-1/VEGF双抗依沃西单抗头对头对比Keytruda一线治疗PD-L1阳性NSCLC的三期临床HARMOIN-2（HARMONi-2或AK112-303）达到无进展生存期（PFS）的主要研究终点，显示强阳性结果。里程碑! 国产PD-1/VEGF双抗，头对头击败K药！ PD-1/VEGF双抗的大获成功再次引起了人们的关注。今年8月，宜明昂科将旗下PD-L1xVEGF双特异性抗体IMM2510大中华区以外的开发和商业化权利以5000万美元首付+20亿美元里程碑付款授予Instil Bio。 由此可见，该领域的竞争激烈程度不言而喻。 End 声明：本公众号所有发文章(包括原创及转载文章)系出于传递更多信息之目的，且注明来源和作者。本公众号欢迎分享朋友圈或大群，谢绝媒体或机构未经授权以任何形式转载至其他平台。 转载/商务/投稿 | 联系微信15618157102（sum_Gmi） 商务合作 稿件征集 点击了解详情 往期回顾 1 8月 | 高达22家药企裁员 2 国产首款四价HPV疫苗拟纳入优先审评 3 3. 7亿美元!今年规模最大的生物医药融资诞生

Antibody maker Paragon Therapeutics has formed another company, this time in the bustling cancer space of PD-1xVEGF, and it will go straight onto the public markets. The new biotech, named Crescent Biopharma, will take the place of GlycoMimetics on the Nasdaq, the companies said Tuesday morning. GlycoMimetics has failed multiple mid- and late-stage trials in recent months, including one for acute myeloid leukemia . The PD-1xVEGF space has become quite popular in recent months thanks to Keytruda-beating data from Summit Therapeutics and its Chinese partner Akeso. Former Seagen CEO David Epstein also joined a preclinical biotech, named Ottimo Pharma , on Monday that hopes to get bought out after Phase 1 data. BioNTech is also in the race. Crescent’s program, codenamed CR-001, will have initial proof of concept data in the second half of 2026, the company said. It also has two antibody-drug conjugates, another en-vogue area for oncology R&D. “This transaction and financing enable a potentially rapid development path for CR-001, and for the antibody-drug conjugate programs CR-002 and CR-003,” Crescent interim CEO Jonathan Violin said in a statement. Violin is also a venture partner at Fairmount, which is one of the investors supporting a concurrent $200 million financing for the merger, which will keep the R&D engine humming “through 2027,” the company said. Paragon has formed multiple autoimmune-focused biotechs over the past two years. Apogee went public via a traditional IPO, whereas other startups from its universe have landed on the public markets by way of reverse mergers, including Oruka and Spyre . In August, Paragon debuted another offshoot, named Jade Biosciences , with just a chief scientific officer and $80 million. Crescent’s shareholders will own almost all of the combined company, at 96.9%. The deal is anticipated to close in the second quarter of 2025.