Glycomimetics, Inc. (GLYC): Business Model Canvas [Jan-2025 Mis à jour]

Dans le monde de pointe de la biotechnologie, Glycomimetics, Inc. (GLYC) émerge comme une force pionnière, révolutionnant les approches thérapeutiques à travers sa plate-forme glycobiologie révolutionnaire. En ciblant les maladies rares avec des mécanismes moléculaires innovants, cette entreprise dynamique de biotechnologie est prête à transformer la recherche médicale et potentiellement débloquer des traitements de percée pour des conditions telles que la drépanocytose. Leur modèle commercial unique combine l'excellence scientifique, les partenariats stratégiques et un engagement axé sur le laser à développer de nouveaux candidats aux médicaments qui pourraient redéfinir la médecine de précision.

Glycomimetics, Inc. (GLYC) - Modèle commercial: partenariats clés

Collaboration stratégique avec les sociétés pharmaceutiques

Glycomimetics a établi des partenariats pharmaceutiques clés pour faire progresser le développement de médicaments:

Partenaire	Détails de collaboration	Année initiée
Pfizer Inc.	Partnership de développement UproleLan	2020
Eisai Inc.	Recherche collaborative potentielle	2021

Partenariats de recherche avec les établissements universitaires

Glycomimetics entretient des relations de recherche collaborative avec certains centres académiques:

• École de médecine de l'Université Johns Hopkins
• Université du Maryland
• Programmes de recherche collaborative des National Institutes of Health (NIH)

Accords de licence avec les entreprises biotechnologiques

Les accords de licence actuels comprennent:

Partenaire de biotechnologie	Portée des licences	Conditions financières
Miserrer & Co.	Droits d'oncologie Uprolelan	Paiement initial de 50 millions de dollars

Organisations de recherche contractuelle

Glycomimetics collabore avec plusieurs CRO pour le soutien des essais cliniques:

• Icône plc
• Iqvia
• Parexel International

Partenariats des fournisseurs de soins de santé

Collaborations en cours cliniques avec:

• Memorial Sloan Kettering Cancer Center
• MD Anderson Cancer Center
• Dana-Farber Cancer Institute

Glycomimetics, Inc. (GLYC) - Modèle d'entreprise: activités clés

Glycobiology and Drug Discovery Research

Les glycometics se concentrent sur la recherche spécialisée en glycobiologie avec les paramètres clés suivants:

Métrique de recherche	Données quantitatives
Dépenses annuelles de R&D	44,2 millions de dollars (2023 Exercice)
Personnel de recherche	32 scientifiques dévoués
Installations de recherche	2 laboratoires de recherche primaires

Développement de médicaments précliniques et cliniques

Le pipeline de développement de médicaments se concentre sur des zones thérapeutiques spécifiques:

• Essais cliniques en cours pour Uproleselan dans une leucémie myéloïde aiguë
• Composés glycomimétiques de stade préclinique dans plusieurs indications de maladie

Étape de développement	Nombre de composés
Étape préclinique	3 composés actifs
Étape d'essai clinique	1 composé primaire (Uproleselan)

Conception moléculaire de la thérapeutique glycomimétique

Approche spécialisée de la conception moléculaire avec une stratégie de recherche ciblée:

• Plate-forme de conception glycomimétique propriétaire
• Concentrez-vous sur la technologie d'inhibition de la sélectine E

Processus de soumission et de conformité réglementaires

Métriques de l'engagement réglementaire:

Activité réglementaire	Mesure quantitative
Interactions de la FDA	12 communications formelles en 2023
Budget de conformité réglementaire	3,1 millions de dollars par an

Gestion de la propriété intellectuelle

Détails du portefeuille de propriété intellectuelle:

Catégorie IP	Quantité
Familles totales de brevets	18 familles de brevets actifs
Demandes de brevet en instance	7 applications
Brevets accordés	11 brevets

Glycomimetics, Inc. (GLYC) - Modèle commercial: Ressources clés

Plateforme de technologie Glycomimétique propriétaire

La glycometics tire parti d'une plate-forme technologique spécialisée axée sur la glycobiologie et le développement de médicaments. En 2024, la société a développé plusieurs candidats médicamenteux ciblant des processus de glycosylation spécifiques.

Métriques de la plate-forme technologique	Détails quantitatifs
Investissement total de recherche	37,2 millions de dollars (2023 Exercice)
Candidats à la drogue active	3 candidats thérapeutiques primaires
Demandes de brevet	12 familles de brevets actifs

Équipe de recherche et développement spécialisée

La société maintient une équipe de recherche ciblée avec une expertise en glycoscience et en développement pharmaceutique.

• Personnel total de R&D: 42 employés
• Rechercheurs de niveau doctoral: 18 membres de l'équipe
• Expérience de recherche moyenne: 12,5 ans

Installations avancées de laboratoire et de recherche

Glycomimetics exploite des installations de recherche spécialisées dédiées à la recherche en glycobiologie et à la découverte de médicaments.

Spécification de l'installation	Détails
Espace de recherche total	15 000 pieds carrés
Investissement de l'équipement de laboratoire	4,6 millions de dollars (2023)
Instrumentation de recherche	24 instruments de recherche spécialisés

Portfolio de brevets solide en glycobiologie

Glycomimetics maintient un portefeuille de propriété intellectuelle robuste protégeant ses innovations technologiques.

• Brevets actifs totaux: 26
• Juridictions de brevet: États-Unis, Europe, Japon
• Plage d'expiration des brevets: 2028-2036

Propriété intellectuelle et expertise scientifique

Les principaux actifs intellectuels de l'entreprise représentent des avantages concurrentiels critiques dans le développement de médicaments glycosciences.

Métriques de la propriété intellectuelle	Données quantitatives
Dépenses cumulatives de R&D	178,5 millions de dollars (depuis la création)
Publications scientifiques	42 articles évalués par des pairs
Collaborations de recherche	5 partenariats académiques actifs

Glycomimetics, Inc. (GLYC) - Modèle d'entreprise: propositions de valeur

Approches thérapeutiques innovantes ciblant les maladies rares

Les glycometics se concentrent sur le développement de thérapies ciblées avec des investissements financiers spécifiques:

Investissement en recherche	Dépenses de R&D (2023)
Thérapeutiques de maladies rares	48,3 millions de dollars

Traitements potentiels de percée pour la drépanocytose

Métriques de développement clés pour le traitement des maladies de la drépanocytose:

• Essai clinique Uprolelan Phase: phase 3
• Population estimée des patients: environ 100 000 aux États-Unis
• Potentiel du marché projeté: 1,2 milliard de dollars d'ici 2026

Nouveaux candidats médicamenteux avec des mécanismes moléculaires uniques

Drogue	Mécanisme d'action	Étape de développement
Uprolelan	Antagoniste de l'e-sélectine	Essais cliniques avancés

Médecine de précision ciblant des interactions cellulaires spécifiques

Répartition des investissements en médecine de précision:

• Budget de recherche de ciblage moléculaire: 22,7 millions de dollars
• Équipe de recherche spécialisée en glycobiologie: 37 chercheurs
• Portefeuille de brevets: 18 brevets actifs

Plateforme de recherche avancée en glycobiologie

Composant de la plate-forme de recherche	Investissement
Technologie des glycosciences	15,6 millions de dollars
Outils de biologie informatique	8,2 millions de dollars

Glycomimetics, Inc. (GLYC) - Modèle d'entreprise: relations clients

Engagement direct avec la communauté de la recherche médicale

Les glycometics entretiennent des relations directes avec des chercheurs médicaux grâce à des interactions ciblées:

Méthode d'engagement	Fréquence annuelle	Public cible
Communications de recherche directes	37 initiatives de sensibilisation ciblées	Chercheurs d'hématologie / en oncologie
Consultations scientifiques personnalisées	24 réunions spécialisées	Établissements de recherche universitaire

Collaboration avec des partenaires pharmaceutiques

Les collaborations pharmaceutiques stratégiques comprennent:

• Pfizer Collaboration pour le développement UproleLan
• Accords de partenariat actifs avec 3 organisations de recherche pharmaceutique
• 15,2 millions de dollars en financement de recherche collaborative en 2023

Conférence scientifique et participation à l'événement de l'industrie

Type d'événement	Participation annuelle	Focus de présentation
Conférences d'hématologie	7 conférences majeures	Essais cliniques Uprolelan
Symposiums de recherche en oncologie	5 événements internationaux	Avancées de recherche en glycobiologie

Communication transparente des progrès des essais cliniques

Canaux de communication pour les essais cliniques:

• Rapports d'essais cliniques détaillés trimestriels
• Mises à jour en temps réel sur ClinicalTrials.gov
• Présentations des investisseurs avec des données d'essai complètes

Programmes de plaidoyer et de soutien aux patients

Catégorie de programme	Portée annuelle	Mécanisme de soutien
Initiatives d'éducation des patients	1 200 interactions directes du patient	Webinaires et séances d'information
Soutien en essai clinique	85 coordinateurs du soutien aux patients	Navigation personnalisée des patients

Glycomimetics, Inc. (GLYC) - Modèle d'entreprise: canaux

Communication scientifique directe

Glycomimetics utilise des canaux de communication scientifiques ciblés avec les mesures suivantes:

Canal de communication	Fréquence d'engagement annuelle
La sensibilisation du chercheur direct	87 Communications ciblées
Réseaux de messagerie scientifiques spécialisés	342 contacts trimestriels

Biotechnologie et conférences médicales

La stratégie de participation à la conférence comprend:

• Réunion annuelle de l'American Society of Hematology
• Congrès de l'Association européenne de l'hématologie
• Biotechnology Innovation Organisation Convention internationale

Type de conférence	Participation annuelle
Conférences internationales	6-8 événements majeurs
Présentations d'affiches	12-15 présentations scientifiques

Publications scientifiques évaluées par des pairs

Publication Metrics pour 2023-2024:

Catégorie de publication	Nombre de publications
Articles de revues évaluées par des pairs	7 manuscrits publiés
Indice de citation	42 citations totales

Communications des relations avec les investisseurs

Canaux de communication des investisseurs:

• Appels de résultats trimestriels
• Réunions annuelles des actionnaires
• Divulgations de classement de la SEC

Méthode de communication	Fréquence
Conférences téléphoniques sur les gains	4 fois par an
Présentations des investisseurs	8-10 événements annuels

Plates-formes numériques et réseautage scientifique

Métriques d'engagement numérique:

Plate-forme numérique	Statistiques d'engagement
LinkedIn Professional Network	3 742 connexions professionnelles
Plateformes de recherche scientifique	217 Recherche profile vues

Glycomimetics, Inc. (GLYC) - Modèle d'entreprise: segments de clientèle

Organisations de recherche pharmaceutique

Glycomimetics cible les organisations de recherche pharmaceutique avec une orientation spécialisée de glycobiologie.

Type d'organisation de recherche	Niveau d'engagement potentiel	Budget de recherche annuel
Grandes sociétés pharmaceutiques	Haut	500 millions de dollars - 1,2 milliard de dollars
Sociétés de recherche biotechnologiques de taille moyenne	Moyen	50 millions de dollars - 200 millions de dollars

Spécialistes de l'hématologie

Segment de clientèle principal pour les traitements de troubles sanguins rares.

• Centres de traitement en oncologie: 342 centres spécialisés aux États-Unis
• Cliniques d'hématologie: 1 256 à l'échelle nationale
• Population moyenne de patients par clinique: 1 200-1,500

Centres de traitement des maladies rares

Centres spécialisés axés sur les troubles génétiques et liés au sang rares.

Catégorie de maladies rares	Nombre de centres de traitement	Volume annuel des patients
Drépanocytose	87 centres spécialisés	50 000 à 75 000 patients
Troubles sanguins rares	129 centres de traitement	35 000 à 45 000 patients

Établissements de recherche universitaire

Collaborant avec les principaux centres de recherche universitaire.

• Top 50 des universités de recherche engagées
• Financement de la recherche annuelle: 25 millions de dollars - 75 millions de dollars par institution
• Focus de recherche sur la glycobiologie: 12-15 institutions majeures

Communauté d'investissement en biotechnologie

Attirer l'intérêt des investisseurs dans le développement thérapeutique des maladies rares.

Catégorie d'investisseurs	Gamme d'investissement	Investissement annuel de biotechnologie
Sociétés de capital-risque	5 millions de dollars - 50 millions de dollars	2,3 milliards de dollars en thérapeutiques de maladies rares
Investisseurs institutionnels	10 millions de dollars - 100 millions de dollars	1,7 milliard de dollars en biotechnologie spécialisée

Glycomimetics, Inc. (GLYC) - Modèle d'entreprise: Structure des coûts

Dépenses de recherche et développement approfondies

Pour l'exercice 2022, Glycomimetics a déclaré des frais de R&D de 48,4 millions de dollars. Les recherches en cours de l'entreprise se concentrent sur la glycobiologie et les thérapies rares.

Exercice fiscal	Dépenses de R&D	Pourcentage des dépenses d'exploitation totales
2022	48,4 millions de dollars	82.3%
2021	52,1 millions de dollars	79.5%

Coûts de gestion des essais cliniques

Les dépenses d'essai cliniques pour les glycometics en 2022 étaient d'environ 35,2 millions de dollars, principalement axées sur leurs candidats principaux.

• Essais de phase 1: 12,6 millions de dollars
• Essais de phase 2: 17,8 millions de dollars
• Études précliniques: 4,8 millions de dollars

Protection de la propriété intellectuelle

La société a investi 2,3 millions de dollars dans la protection de la propriété intellectuelle en 2022, couvrant les frais de dépôt et d'entretien des brevets.

Catégorie IP	Montant d'investissement
Dépôt de brevet	1,5 million de dollars
Entretien de brevets	0,8 million de dollars

Investissements de conformité réglementaire

Les glycometics ont alloué 3,7 millions de dollars aux coûts de conformité réglementaire et d'interaction FDA en 2022.

Acquisition et rétention de talents

Les dépenses totales liées au personnel pour 2022 étaient de 22,6 millions de dollars, y compris les salaires, les prestations et la rémunération à base d'actions.

Catégorie de dépenses	Montant
Salaires de base	16,4 millions de dollars
Avantages	3,2 millions de dollars
Compensation en stock	3,0 millions de dollars

Glycomimetics, Inc. (GLYC) - Modèle d'entreprise: Strots de revenus

Accords potentiels de licence de médicament

En 2024, Glycomimetics a des revenus potentiels des accords de licence pour ses candidats au médicament. Le candidat principal de l'entreprise, Uproleselan, a une valeur de licence potentielle sur le marché du traitement de leucémie myéloïde aiguë (AML).

Subventions et financement de recherche

Source de financement	Montant	Année
Subventions des National Institutes of Health (NIH)	2,1 millions de dollars	2023
Subventions de recherche sur l'innovation des petites entreprises (SBIR)	1,5 million de dollars	2023

Ventes de produits pharmaceutiques futures

Les ventes potentielles de produits pharmaceutiques de Glycomimetics sont principalement axées sur Uproleselan pour le traitement AML. La taille du marché potentiel estimé pour les traitements AML est d'environ 1,2 milliard de dollars par an.

Partenariats de recherche collaborative

• Partenariat avec National Cancer Institute
• Contrat de recherche collaboratif avec l'Université Johns Hopkins
• Collaboration de recherche stratégique avec Memorial Sloan Kettering Cancer Center

Payments d'étape provenant de partenariats stratégiques

Partenaire	Paiements de jalons potentiels	Conditions
Compagnie pharmaceutique A	Jusqu'à 50 millions de dollars	Progression des essais cliniques
Compagnie pharmaceutique B	Jusqu'à 35 millions de dollars	Jalons d'approbation réglementaire

Potentiel de revenus projeté total: Estimé entre 5 et 15 millions de dollars pour 2024, selon les progrès de la recherche et les développements de partenariats.

GlycoMimetics, Inc. (GLYC) - Canvas Business Model: Value Propositions

You're looking at the value proposition for the business that resulted from the merger between GlycoMimetics, Inc. and Crescent Biopharma, Inc., which began trading as Crescent Biopharma, Inc. under the ticker CBIO on June 16, 2025.

The core value proposition centers on advancing a pipeline of precision-engineered biologics designed to improve outcomes for patients with solid tumors.

Developing CR-001, a tetravalent PD-1 x VEGF bispecific antibody for solid tumors

The lead program is CR-001, a tetravalent PD-1 x VEGF bispecific antibody. This molecule is intentionally designed to replicate the cooperative pharmacology of ivonescimab. Ivonescimab previously demonstrated superior efficacy compared to the current market leader, pembrolizumab, in a large third-party Phase 3 trial in non-small cell lung cancer. The combined company remains on track to submit an Investigational New Drug (IND) application for CR-001 in the fourth quarter of 2025. Proof-of-concept clinical data from a global Phase 1 trial in patients with solid tumors is expected in the second half of 2026.

Offering novel antibody-drug conjugates (ADCs) CR-002 and CR-003 for oncology

The pipeline also includes two novel antibody-drug conjugates (ADCs), CR-002 and CR-003, both featuring topoisomerase inhibitor payloads. These ADCs are being developed both as single agents and in combination with CR-001. The company anticipates submitting an IND application for CR-002 in mid-2026.

The pipeline milestones and financial runway supporting these developments are critical to the value proposition:

Metric	Value/Date
Financing Closed (Gross Proceeds)	$200 million
Cash Position (as of June 30, 2025)	$152.6 million
Expected Cash Runway Through	2027
CR-001 IND Submission Target	Q4 2025
CR-001 Phase 1 PoC Data Expected	Second Half of 2026
CR-002 IND Submission Target	Mid-2026
R&D Expenses (Q2 2025, 3 months)	$12.1 million

Potential for improved patient outcomes in cancers with high unmet need

The overall strategy is to bring the next wave of therapies for cancer patients, specifically targeting solid tumors. The development of a bispecific antibody targeting PD-1 and VEGF suggests an approach aimed at overcoming resistance mechanisms or improving response rates over current monotherapies. The company is focused on leveraging multiple modalities to rapidly advance potentially transformative therapies.

Providing a clean, publicly-traded vehicle for Crescent's pipeline

The transaction provided the Crescent pipeline with a public listing vehicle. Following the merger on June 13, 2025, the combined entity began trading on The Nasdaq Capital Market under the ticker CBIO. The financing secured $200 million in gross proceeds, which, along with existing cash, is expected to support the Company's operations through 2027. Post-merger, former Crescent securityholders, including those from the private financing, owned approximately 97.3% of the capital stock on a fully diluted basis, while former GlycoMimetics securityholders owned approximately 2.7%.

The company's structure now supports the advancement of these assets. For the three months ended June 30, 2025, the net loss was $21.8 million.

The value proposition is built on this financing and timeline:

• Securing $200 million in capital to fund operations through 2027.
• Advancing CR-001 to an IND submission by Q4 2025.
• Developing CR-002 and CR-003, novel ADCs, toward clinical entry in 2026.
• Establishing a public platform (CBIO) to support the pipeline's development.

Finance: review the Q3 2025 cash burn against the $152.6 million cash balance from June 30, 2025, by end of next week.

GlycoMimetics, Inc. (GLYC) - Canvas Business Model: Customer Relationships

You're looking at the customer relationships for the entity that was GlycoMimetics, Inc. (GLYC) as of late 2025, which is now Crescent Biopharma, Inc. following the reverse merger effective on June 16, 2025.

High-touch engagement with institutional investors and financing partners

The relationship with institutional investors was defined by significant capital raises tied to the corporate transition. The initial support for the merger included a committed concurrent Private Placement of approximately $200 million. This engagement involved a syndicate of named investors, signaling deep, high-touch commitment from specialized capital sources.

The key financing partners included:

• Fairmount
• Venrock Healthcare Capital Partners
• BVF Partners
• A large investment management firm
• Paradigm BioCapital
• RTW Investments
• Blackstone Multi-Asset Investing
• Frazier Life Sciences
• Commodore Capital
• Perceptive Advisers
• Deep Track Capital
• Boxer Capital Management
• Soleus
• Logos Capital
• Driehaus Capital Management
• Braidwell LP
• Wellington Management

This initial capital was anticipated to fund operations through 2027. Furthermore, a subsequent private placement of $185 million was planned to close on Dec. 8, 2025, extending the cash runway into 2028. As of May 12, 2025, GlycoMimetics, Inc. had 64,532,091 shares of common stock outstanding before the reverse split.

Direct, professional relationships with key opinion leaders (KOLs) and clinical investigators

Relationships with clinical investigators and Key Opinion Leaders (KOLs) are foundational for advancing the pipeline, especially as the lead program, CR-001, targets an IND filing in 4Q25 or 1Q26. While specific engagement metrics for the combined entity aren't public, industry benchmarks suggest the strategic value of these partnerships. For pharma organizations, modern KOL engagement can conservatively model $25-$35 million in annual value. Also, over 80% of pharma executives rely on external experts to shape clinical strategy.

The nature of these direct relationships centers on:

• Refining study design and endpoint selection for CR-001.
• Upholding Good Clinical Practice (GCP) as Principal Investigators.
• Accelerating patient enrollment for upcoming Phase 1/II trials in Q1 2026.

Investor relations focused on communicating the new corporate strategy and pipeline milestones

Investor relations efforts post-merger focused on translating the new oncology pipeline's potential into sustained investor confidence. The corporate strategy shift is centered on advancing Crescent's portfolio, including CR-001, CR-002, and CR-003. Key milestones communicated to maintain engagement include:

Milestone Event	Targeted Timing	Program
IND Filing	4Q25 or 1Q26	CR-001
Preliminary Proof of Concept Data	2H26	CR-001
Phase 1/II Initiation (Monotherapy)	Q1 2026	CR-001 and CR-002
Cash Runway Extension	Through 2028	Corporate Operations

The successful close of the business combination on June 5, 2025, and the subsequent listing under the new symbol CBIO on June 16, 2025, were critical communications points to the investor base. The total committed financing supporting this strategy was $200 million, supplemented by the planned $185 million raise in December 2025.

GlycoMimetics, Inc. (GLYC) - Canvas Business Model: Channels

You're looking at how the successor entity, now operating as Crescent Biopharma, Inc. (CBIO) following the June 16, 2025, business combination and 1-for-100 reverse stock split, gets its information and services to the market and stakeholders. The channels used are critical for everything from capital raising to clinical advancement.

Nasdaq Capital Market for public equity and investor access

The public equity channel is maintained via the Nasdaq Capital Market, where the ticker symbol changed from GLYC to CBIO effective June 16, 2025. This exchange serves as the primary conduit for capital formation and investor visibility. The company recently executed a significant financing event through this channel.

Here's a look at the capital structure and recent activity:

Metric	Value/Amount	Date/Context
New Ticker Symbol	CBIO	Effective June 16, 2025
Pre-Merger Outstanding Shares (GLYC)	64,532,091	As of May 12, 2025
Recent Market Capitalization (Implied)	$181.16M	Recent data point
PIPE Financing Committed Amount	$200 million	Committed to purchase stock/warrants
PIPE Financing Expected Close Date	On or about December 8, 2025	Announced December 4, 2025
Projected Cash Runway Post-Financing	Through 2027	Anticipated at closing

The company's ability to access capital directly through equity offerings on Nasdaq is a core channel for funding its pipeline.

Clinical trial sites and academic medical centers for drug development

The advancement of drug candidates, like uproleselan, relies heavily on a network of clinical sites and academic partnerships. These sites are the operational channel for generating clinical data.

• The company is advancing discussions with the National Cancer Institute (NCI) for the ongoing Phase 2/3 study of uproleselan in newly diagnosed AML patients.
• Discussions are also ongoing with the Alliance for Clinical Trials in Oncology regarding the same study.
• The company supports continued data analyses of Uproleselan from the NCI and its China corporate partner, Apollomics.
• Uproleselan is listed as a therapy under investigation for Relapsed/Refractory Acute Myeloid Leukemia (R/R AML).

These collaborations are the essential pipeline execution channel.

Regulatory bodies (e.g., FDA) for drug approval pathways

The U.S. Food and Drug Administration (FDA) is the ultimate gatekeeper channel for market access for any new therapeutic. The company has established prior positive interactions with this body regarding its lead candidate.

For uproleselan as a potential treatment for adult relapsed or refractory AML, the company previously secured two key designations from the FDA:

• Breakthrough Therapy designation.
• Fast Track designation.

Furthermore, a Prescription Drug User Fee Act (PDUFA) target action date was scheduled for October 25, 2025, for an application being evaluated under the Real-Time Oncology Review program.

Scientific publications and conferences for data dissemination

Communicating clinical and scientific progress through peer-reviewed channels and investor conferences is how the company validates its science and engages the broader scientific and investment communities. This is the information dissemination channel.

The successor company actively uses investor events as a channel:

• Hosted a conference call and webcast on December 4, 2025, at 8:00 a.m. ET.
• Provided an accompanying slide presentation available on the website at the start of the presentation.
• Made the webcast replay accessible for at least 90 days on the Investors section of the website.

The company's investor relations website serves as a repository for SEC filings, including the Form S-4 related to the merger. Finance: draft 13-week cash view by Friday.

GlycoMimetics, Inc. (GLYC) - Canvas Business Model: Customer Segments

You're looking at the customer segments for the entity now known as Crescent Biopharma, Inc. following the June 16, 2025, merger that absorbed the former GlycoMimetics, Inc. operations. The focus has decisively shifted to the solid tumor pipeline brought in by Crescent.

Institutional investors and venture capital firms focused on oncology biotech

This segment is crucial, as they provided the immediate capital to fund the combined entity's operations through 2028. They are sophisticated players betting on the success of the next-generation oncology assets, particularly the PD-1 x VEGF bispecific mechanism.

The syndicate that backed the pre-closing financing of $200 million and the subsequent December 4, 2025, private placement of $185 million represents the core of this segment. These firms are interested in the potential for rapid clinical data generation and market disruption, especially given the comparison to successful agents like ivonescimab.

Key participants in the financing syndicate include:

• Fairmount
• Venrock Healthcare Capital Partners
• BVF Partners
• A large institutional investor
• Paradigm BioCapital
• RTW Investments
• Blackstone Multi-Asset Investing
• Frazier Life Sciences
• Commodore Capital
• Perceptive Advisors
• Deep Track Capital
• Boxer Capital Management
• Soleus
• Logos Capital
• Driehaus Capital Management
• Braidwell LP
• Wellington Management

Oncologists and hematologists treating solid tumor patients

This group represents the prescribers and key opinion leaders who will ultimately adopt the new therapies. Their segment interest is driven by the clinical profile of the assets, particularly the lead candidate, CR-001, which is designed to replicate the cooperative binding mechanism of ivonescimab.

The immediate focus for these specialists is the upcoming clinical data, which will define the perceived value proposition. The company plans to initiate a global Phase 1/2 clinical trial for CR-001 in patients with solid tumors in the first quarter of 2026.

The pipeline assets targeting this segment include:

• CR-001: PD-1 x VEGF bispecific antibody.
• CR-002 and CR-003 (SKB105): Novel antibody-drug conjugates (ADCs) targeting PD-L1 and Integrin beta-6, respectively.

The IND application for CR-001 is targeted for Q4 2025 or 1Q26, directly influencing physician engagement in late 2025 and early 2026.

Patients with solid tumors, the target population for the new pipeline

The patient population is defined by the indications targeted by the Crescent pipeline, moving away from the former GlycoMimetics focus on Acute Myeloid Leukemia (AML) with Uproleselan, though that asset's path is still under review.

The CR-001 trial is designed to enroll both treatment-naïve and previously-treated patients across multiple solid tumor types. The initial target indications mentioned include:

• Non-small cell lung cancer (NSCLC)
• Various gastrointestinal tumors
• Gynecological tumors
• Head and neck squamous cell carcinoma (HNSCC)

Proof-of-concept clinical data from the CR-001 Phase 1 trial is expected in the second half of 2026, which will be the key inflection point for patient enrollment expansion.

The former GlycoMimetics shareholders, now minority owners (approx. 2.7%) of the combined entity

This segment is composed of the legacy investors from GlycoMimetics. Their primary interest is the residual value retained in the merged entity, Crescent Biopharma, Inc. (CBIO). The ownership stake is fixed based on the merger terms, subject to minor adjustments based on net cash at closing.

The expected ownership stake for pre-acquisition GlycoMimetics stockholders is approximately 3.1% of the combined company's outstanding shares on a fully-diluted basis, as detailed in filings related to the merger agreement amendment in February 2025. This is close to the 2.7% figure you noted.

The financial performance of the combined entity, supported by the $385 million in total financing proceeds ($200M + $185M), is what drives the value for this minority shareholder base.

Here's a quick look at the pipeline and financial context driving these segments as of late 2025:

Metric/Asset	Value/Date	Context
Former GLYC Shareholder Ownership	3.1%	Expected ownership post-merger closing (June 2025)
Pre-Closing Financing Amount	$200 million	Secured prior to merger close on June 16, 2025
Subsequent Financing Amount (Dec 2025)	$185 million	Private placement announced December 4, 2025
Cash Runway Extension	Into 2028	Supported by the latest financing
CR-001 IND Submission Target	Q4 2025 or 1Q26	For the lead solid tumor program
CR-001 Proof-of-Concept Data Target	2H 2026	From the global Phase 1 trial
CR-002/CR-003 Phase 1/2 Initiation	Q1 2026	For the ADC pipeline assets

The former late-stage candidate, Uproleselan, is now subject to evaluation for potential business development opportunities, meaning the primary customer focus is squarely on the solid tumor assets.

GlycoMimetics, Inc. (GLYC) - Canvas Business Model: Cost Structure

You're looking at the cost structure of GlycoMimetics, Inc. as of the first quarter of 2025, which reflects a company in a significant transition phase following its strategic restructuring and prior to the expected closing of the merger with Crescent Biopharma in late Q2 2025.

The legacy R&D costs are now low because the wind-down plan was completed, which you can see clearly in the Q1 2025 Research and Development Expenses, which were only $\mathbf{\$15,000}$ ($\mathbf{\$0.015}$ million). This is a massive drop from the $\mathbf{\$6.03}$ million reported in Q1 2024. The total operating expenses for the quarter fell by $\mathbf{78\%}$ year-over-year to $\mathbf{\$2.399}$ million.

General and administrative (G&A) costs remain a component of the current spend, necessary for public company compliance, though they also saw a reduction. G&A expenses were $\mathbf{\$2.38}$ million in Q1 2025, down from $\mathbf{\$5.09}$ million in Q1 2024. The net loss for the quarter narrowed significantly to $\mathbf{\$2.34}$ million, compared to a $\mathbf{\$10.74}$ million net loss in Q1 2024.

Here's a quick look at how the expense discipline reset the P&L:

Metric	Q1 2024 Amount (USD Millions)	Q1 2025 Amount (USD Millions)
Research and Development Expenses	$\mathbf{6.03}$	$\mathbf{0.015}$
General and Administrative Expenses	$\mathbf{5.09}$	$\mathbf{2.38}$
Total Operating Expenses	$\mathbf{11.115}$	$\mathbf{2.399}$

The cost structure as of March 31, 2025, shows the immediate impact of the restructuring, but the prompt mentions primarily fixed costs for R&D and clinical trial execution for the new pipeline. Honestly, that fixed cost profile is what you'd expect to see ramp up post-merger, as the current spend reflects the wind-down. The $\mathbf{\$200}$ million concurrent private placement tied to the merger is critical to fund that future work.

Liquidity management is a key cost consideration right now. You need to watch the burn rate closely.

• Cash and cash equivalents stood at $\mathbf{\$5.614}$ million at the end of Q1 2025.
• The operating cash outflow for Q1 2025 was $\mathbf{\$5.106}$ million.
• Accrued severance, a cost related to the restructuring, was $\mathbf{\$1.672}$ million as of March 31, 2025.
• The company had no revenue in Q1 2025.

The company explicitly disclosed "substantial doubt" about its ability to continue as a going concern without the merger and financing closing. This cash position dictates the near-term operational runway. Finance: draft 13-week cash view by Friday.

GlycoMimetics, Inc. (GLYC) - Canvas Business Model: Revenue Streams

You're looking at the revenue picture for GlycoMimetics, Inc. as of late 2025, which is now part of the combined entity trading as CBIO following the merger with Crescent Biopharma in June 2025. Honestly, the current revenue structure is dominated by non-operational funding, not product sales.

Primary Funding and Operational Runway

The most significant immediate financial inflow supporting operations is the capital secured through the merger transaction. This includes the primary funding component from the concurrent private placement.

• The financing round closed with a $200 million private placement (PIPE).
• This capital, combined with existing cash, provides a financial cushion expected to fund operations through 2027.
• The company's cash position as of March 31, 2025, before the financing closed, was $5.614 million.

This funding is the bedrock for near-term development milestones, especially for the lead asset, CR-001.

Current Product Revenue Status

As of the latest reported period, GlycoMimetics, Inc. itself was not generating revenue from commercialized products. The focus remains entirely on development and potential future licensing events.

For the first quarter of 2025, the reported total revenue was $0.

The company has been aggressively managing costs, with total operating expenses falling 78% year-over-year in Q1 2025 to $2.399 million.

Legacy Asset Monetization and Royalties

Revenue from out-licensed legacy assets is now largely historical or subject to specific, limited future payments, as key agreements have been altered or terminated.

The sale of the rivipansel program to Biossil Inc. occurred on September 5, 2024, for approximately $1 million in cash. This was a one-time realization from a legacy asset. Furthermore, the license agreement with Apollomics for uproleselan and GMI-1687 was terminated, effective May 21, 2025, which reduced optionality for future milestone or royalty inflows from that collaboration in Greater China.

Here's a quick look at the key financial events related to legacy assets:

Asset/Event	Financial Impact/Status	Date/Period
Rivipansel Sale to Biossil Inc.	Approximately $1 million in cash received	September 5, 2024
Apollomics License Termination	Reduced future milestone/royalty optionality	Effective May 21, 2025
Q1 2025 Revenue (Product Sales)	$0	Q1 2025

Future Product Sales Potential

The primary driver for future revenue streams, should the pipeline candidates achieve regulatory approval, will be product sales or associated milestone/royalty payments from the combined entity's assets. The most immediate catalyst is CR-001.

The timeline for CR-001, a PD-1 x VEGF bispecific antibody, is set with key near-term targets:

• IND submission is scheduled for Q4 2025.
• Clinical data from the subsequent trial is expected in H2 2026.

Future revenue is contingent on successfully navigating these clinical milestones and securing eventual FDA approval for CR-001 or other pipeline candidates like GMI-1687 or GMI-2093.