Crescent Biopharma

Crescent Biopharma has appointed Jan Pinkas, Ph.D., as chief scientific officer, bringing over two decades of oncology drug development experience including expertise in antibody-drug conjugates.

Gyre Therapeutics has successfully dosed the first volunteer in a Phase 1 clinical trial evaluating F230, a novel endothelin A receptor antagonist, for treating pulmonary arterial hypertension in China.

GlycoMimetics stockholders approved the proposed merger with Crescent Biopharma on June 5, 2025, along with all related proposals including a 1-for-100 reverse stock split.

China's NMPA has approved Gyre Therapeutics' clinical trial application to evaluate pirfenidone for treating radiation-induced lung injury and immune-related pneumonitis in cancer patients.

Gyre Therapeutics expects topline results from its Phase 3 trial of F351 for Chronic Hepatitis B-associated liver fibrosis in China during Q1 2025.

Merck is acquiring global rights to LaNova Medicines' LM-299, a bispecific antibody targeting PD-1 and VEGF, for $588 million, with potential milestone payments up to $2.7 billion.

• Gyre Therapeutics reported Q3 2024 revenues of $25.5 million, a decrease from $32.0 million in Q3 2023, alongside a net income of $2.9 million. • The company completed its Phase 3 trial for F351 in CHB-associated liver fibrosis, with topline data expected in the first quarter of 2025. • Commercial launches of avatrombopag and nintedanib in China are planned for 2025, expanding Gyre's product offerings. • A U.S. Phase 2 trial of F351 in MASH-associated liver fibrosis is slated to begin in 2025, pending Phase 3 results.

• Gyre Therapeutics completed its pivotal Phase 3 trial of F351 for chronic hepatitis B-associated liver fibrosis in China, with topline data expected in Q1 2025. • The company anticipates launching avatrombopag maleate tablets for chronic liver disease-associated thrombocytopenia in China in the first half of 2025. • Gyre plans to commercialize nintedanib for idiopathic pulmonary fibrosis in China in 2025, expanding its presence in the pulmonary fibrosis market. • A Phase 2 clinical trial of F351 in MASH-associated liver fibrosis in the U.S. is on track to begin in 2025, pending Phase 3 results.

• Semaglutide, a GLP-1 receptor agonist, demonstrates improved kidney function in overweight/obese patients with albuminuric chronic kidney disease without diabetes. • Wider insurance coverage and a significant cost reduction are expected to drive changes in GLP-1 prescription and usage over the next five years. • Glycomimetics' stock surged following an acquisition agreement with Crescent Biopharma, despite a Phase II trial failure of uproleselan in acute myeloid leukemia.

Gyre Therapeutics has completed its pivotal Phase 3 trial of F351 (hydronidone) for chronic hepatitis B (CHB)-associated liver fibrosis in China.