WALTHAM, Mass., Aug. 03, 2026 (GLOBE NEWSWIRE) -- Crescent Biopharma, Inc. ("Crescent" or the "Company") (NASDAQ:CBIO), a clinical-stage biotechnology company dedicated to rapidly advancing the next wave of therapies for cancer patients, today announced that the independent Compensation Committee of its Board of Directors approved the grant of options to purchase an aggregate of 19,425 shares of the Company’s ordinary shares to one non-executive employee as equity inducement awards under the Crescent Biopharma, Inc. 2025 Employment Inducement Incentive Award Plan, as amended (the "Inducement Plan"). The options were approved on July 31, 2026 and were material to the employee's acceptance of employment with Crescent, in accordance with Nasdaq Listing Rule 5635(c)(4).

The options were granted with a 10-year term and an exercise price equal to $14.47, the closing price per share of Crescent’s ordinary shares as reported by Nasdaq on July 31, 2026. The options granted to the employee shall vest and become exercisable as to one-fourth (1/4th) of the shares subject to the respective options on the first anniversary of the employee’s start date, and one-forty-eighth (1/48th) of the shares subject to the respective options shall vest and become exercisable monthly thereafter, in each case, subject to continuous service with Crescent through the applicable vesting dates. The options are subject to the terms of the Inducement Plan and the terms and conditions of an option agreement covering the applicable grant.

About Crescent Biopharma

Crescent Biopharma’s vision is to build a world leading oncology company bringing the next wave of therapies for cancer patients. The Company’s clinical-stage pipeline includes its lead program, a PD-1 x VEGF bispecific antibody, as well as novel antibody-drug conjugates (ADCs). By leveraging multiple modalities and established targets, Crescent aims to rapidly advance potentially transformative therapies as single agents and as part of combination regimens to treat a range of solid tumors. For more information, visit www.crescentbiopharma.com and follow the Company on LinkedIn and X.

Contacts

Investors

Amy Reilly

Chief Communications Officer

amy.reilly@crescentbiopharma.com

617-465-0586

Media

Jenna Poist

Director, Corporate Communications

jenna.poist@crescentbiopharma.com

781-671-5019