Crescent Biopharma jumps after cancer drug partnership
04/12/2025 12:24
** Shares of drugmaker Crescent Biopharma CBIO.O rise 36.5% to $18.30 premarket ** Co says it has formed an exclusive partnership with China's Kelun-Biotech to develop and market new cancer treatments ** Co is also raising $185 million from investors to fund clinical trials - CBIO ** Says deal gives Kelun-Biotech rights to co's experimental drug CR-001 in Greater China ** CBIO's CR-001 aims to boost immune response and block blood supply to tumors; SKB105 targets solid tumors, co says ** Both firms plan to test drugs alone and in combination; human trials for 3 drugs set for 2026, co says ** Up to last close, stock was down ~46% YTD (Reporting by Sahil Pandey in Bengaluru) ((Sahil.Pandey@thomsonreuters.com))
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