Strategic Alliance Propels Sichuan Kelun‑Biotech Toward a New Oncology Frontier
Sichuan Kelun‑Biotech Biopharmaceutical Co., Ltd. (HK: 6990) has announced a high‑profile collaboration with Crescent Biopharma, Inc. (Nasdaq: CBIO) that positions the Chengdu‑based biopharmaceutical firm at the vanguard of next‑generation cancer therapeutics. The partnership, disclosed on 4 December 2025, focuses on two complementary clinical candidates—Crescent’s bispecific antibody CR‑001 and Kelun‑Biotech’s antibody‑drug conjugate (ADC) SKB105—with a view to developing synergistic combination regimens for solid tumours.
Key Elements of the Collaboration
| Item | Detail |
|---|---|
| Primary Partners | Crescent Biopharma (U.S.) & Sichuan Kelun‑Biotech (China) |
| Lead Products | CR‑001: PD‑1 × VEGF bispecific antibody SKB105: Integrin β‑6‑directed ADC with a topoisomerase payload |
| Therapeutic Focus | Treatment of solid tumours; potential for both monotherapy and combination approaches |
| Clinical Milestones | Phase 1/2 monotherapy trials slated for Q1 2026 Combination studies to commence thereafter |
| Geographic Reach | Global markets, with particular emphasis on Greater China |
| Financial Support | Crescent’s $185 million private placement earmarked for clinical development and pipeline expansion |
What the Deal Means for Kelun‑Biotech
Accelerated Development Timeline The alliance enables Kelun‑Biotech to leverage Crescent’s advanced CR‑001 platform, cutting time to first‑in‑class data and allowing the company to enter the clinic with SKB105 sooner than would otherwise be possible.
Expanded Pipeline Breadth By pairing a bispecific antibody with an ADC, the collaboration offers a diversified therapeutic strategy that can address multiple mechanisms of tumour resistance, potentially enhancing clinical efficacy.
Enhanced Commercial Potential The combination of a PD‑1/VEGF bispecific with an integrin β‑6‑targeted ADC positions the products for strong market interest, especially in the Chinese oncology landscape where immune‑oncology and targeted therapies are rapidly adopted.
Robust Financial Backing The $185 million private placement provides Kelun‑Biotech with a significant cash runway, ensuring sufficient resources for pre‑clinical work, Phase 1/2 trials, and regulatory submissions through the next several years.
Market Context
Sichuan Kelun‑Biotech’s market cap of approximately HK$102 billion and a close price of HK$432 (as of 2 December 2025) reflect a company that has built a diversified portfolio of biologics and small molecules. The partnership with Crescent aligns with Kelun‑Biotech’s strategy to deepen its oncology capabilities, particularly in areas where antibody‑drug conjugates and bispecific antibodies are proving transformative.
The collaboration also dovetails with Kelun‑Biotech’s broader export activities, potentially expanding the company’s footprint in international markets through co‑development and co‑commercialization agreements.
Outlook
With the first Phase 1/2 monotherapy trials anticipated in early 2026, investors and clinicians alike will be watching closely to see whether the combination of CR‑001 and SKB105 can deliver early, robust efficacy signals. Should these candidates progress favorably, Kelun‑Biotech could see a substantial upside in both valuation and revenue streams, especially if the partnership extends into later‑stage trials and eventual market launch.
For now, the strategic partnership stands as a testament to Kelun‑Biotech’s ambition to innovate within the highly competitive oncology arena and to harness international collaboration for accelerated drug development.
