Crescent Biopharma completes reverse merger with GlycoMimetics; post-merger shares trade under CBIO

CRESCENT BIOPHARMA, INC.

Former GlycoMimetics securityholders own ~2.7% of combined company; Crescent holders own ~97.3% on fully diluted basis.
Crescent raised ~$200M gross proceeds via pre-closing financing: 85.5M shares and 19.1M pre-funded warrants.
Exchange ratio set at 0.1445 GlycoMimetics shares per Crescent share; 1-for-100 reverse stock split effected.
Combined company has ~19.5M shares outstanding (including warrants and convertible preferred) post-merger.
Company name changed to Crescent Biopharma, Inc.; stock trades under symbol CBIO on Nasdaq Capital Market.

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