GlycoMimetics Updates Merger Agreement with Crescent Biopharma, Amends Terms for Third Time

Reuters05-30

GlycoMimetics Updates Merger Agreement with Crescent Biopharma, Amends Terms for Third Time

GlycoMimetics Inc. has announced an update regarding its merger transaction with Crescent. The company has revised its previous merger plans, selecting Crescent and "Party A" as the final two viable options for a reverse merger. On September 10, 2024, GlycoMimetics directed Lucid to present a proposed term sheet to Party A, which was subsequently revised by Party A on September 12, 2024. The merger will involve two stages: First, the First Merger Sub will merge with Crescent, making it a wholly owned subsidiary of GlycoMimetics. Following this, Crescent will merge into the Second Merger Sub, with the latter becoming the surviving entity. Post-merger, the Second Merger Sub will be renamed "Crescent Biopharma Operating Company, LLC," and GlycoMimetics will become "Crescent Biopharma, Inc." The merger has received unanimous approval from the boards of both GlycoMimetics and Crescent.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. GlycoMimetics Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001104659-25-054587), on May 30, 2025, and is solely responsible for the information contained therein.

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