GlycoMimetics loses China license for uproleselan; CEO, CFO, 5 directors depart
CRESCENT BIOPHARMA, INC.
- Apollomics terminated the collaboration license for uproleselan and GMI-1687 in China, effective 90 days from Feb 19, 2025.
- CEO Harout Semerjian and CFO Brian Hahn ceased employment on Feb 21, 2025; severance payments of $1,365,456 and $480,991 respectively.
- Five directors (Goldberg, Jackson, King, Koenig, Semerjian) resigned Feb 21, 2025; no disagreement with company operations.
- Semerjian consulting: $700/hr for 12 months; Hahn consulting: $15,000/month through change in control or Sep 30, 2025.
- Company is pursuing a merger with Crescent Biopharma (Form S-4 filed).