Crescent Biopharma appoints Jan Pinkas as chief scientific officer

WALTHAM, Mass. - Crescent Biopharma, Inc. (NASDAQ:CBIO), a clinical-stage biotechnology company with a market capitalization of $9.87 million and analyst price targets ranging from $22 to $28, has appointed Jan Pinkas, Ph.D., as chief scientific officer, the company announced Tuesday.

Pinkas brings over 20 years of experience in oncology drug development, with expertise in multiple therapeutic modalities including antibody-drug conjugates (ADCs). According to InvestingPro data, Crescent maintains a strong balance sheet with more cash than debt, though the company is rapidly deploying capital for development programs.

The appointment comes as Crescent advances its oncology pipeline, which includes CR-001, a PD-1 x VEGF bispecific antibody expected to enter a global Phase 1 trial in early 2026, and CR-002, a novel ADC with an anticipated Investigational New Drug submission by mid-2026. For deeper insights into Crescent’s development timeline and financial outlook, InvestingPro subscribers can access the comprehensive Pro Research Report, featuring detailed analysis of the company’s pipeline potential and market positioning.

Prior to joining Crescent, Pinkas served as chief scientific officer at Pyxis Oncology, where he established preclinical research and development functions for ADC and antibody programs. He previously held senior positions at Magenta Therapeutics and ImmunoGen, where he contributed to the development of ELAHERE, an ADC approved for platinum-resistant ovarian cancer, and SARCLISA, an anti-CD38 therapy for multiple myeloma.

"Jan joins us at an important time as we progress our first two programs towards the clinic," said Joshua Brumm, chief executive officer of Crescent, in a press release statement.

Pinkas earned his Ph.D. in molecular and cellular biology from the University of Massachusetts, Amherst and received his B.A. in biology from Johns Hopkins University.

Crescent Biopharma is focused on developing next-generation cancer therapies targeting solid tumors through multiple modalities and established targets.

In other recent news, GlycoMimetics has announced a 1-for-100 reverse stock split, which will reduce its outstanding common stock from approximately 64.5 million shares to about 0.645 million shares. This move is set to take effect on June 16, 2025, following the anticipated merger with Crescent Biopharma. The merger is structured as a stock-for-stock transaction, with Crescent shareholders expected to receive approximately 15.4192 shares of GlycoMimetics common stock for each Crescent share. GlycoMimetics shareholders will own about 2.6% of the combined entity on a fully-diluted basis, while former Crescent holders will own roughly 97.4%. The combined company will operate under the name Crescent Biopharma, Inc. and trade on the Nasdaq under the ticker symbol CBIO. GlycoMimetics has also amended its merger agreement with Crescent, clarifying the exchange of restricted stock units and voting mechanics related to its Series A Non-Voting Convertible Preferred Stock. The merger remains subject to customary closing conditions, including regulatory approvals. Investors are encouraged to review the Registration Statement on Form S-4 filed with the SEC for further details.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.