Yahoo Finance

GlycoMimetics ( (GLYC) ) has issued an update.

GlycoMimetics, Inc. has announced a merger with Crescent Biopharma, aiming to enhance their presence in the biopharma sector. This merger, structured as a tax-free reorganization, will result in Crescent’s shareholders owning a significant majority of the combined entity. The transaction includes a substantial private placement of $200 million to support future growth and development. Both companies’ boards have approved the merger, expected to close in mid-2025, pending various conditions and shareholder approvals.

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