<SEC-DOCUMENT>0001104659-25-064118.txt : 20250630
<SEC-HEADER>0001104659-25-064118.hdr.sgml : 20250630
<ACCEPTANCE-DATETIME>20250630161625
ACCESSION NUMBER:		0001104659-25-064118
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20250613
FILED AS OF DATE:		20250630
DATE AS OF CHANGE:		20250630

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Bispham Barbara Harlin
		CENTRAL INDEX KEY:			0002075230
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36177
		FILM NUMBER:		251092253

	MAIL ADDRESS:	
		STREET 1:		221 CRESCENT STREET
		STREET 2:		BUILDING 23, SUITE 205
		CITY:			WALTHAM
		STATE:			MA
		ZIP:			02453

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CRESCENT BIOPHARMA, INC.
		CENTRAL INDEX KEY:			0001253689
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		EIN:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		300 FIFTH AVENUE
		CITY:			WALTHAM
		STATE:			MA
		ZIP:			02451
		BUSINESS PHONE:		617-430-5595

	MAIL ADDRESS:	
		STREET 1:		300 FIFTH AVENUE
		CITY:			WALTHAM
		STATE:			MA
		ZIP:			02451

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GLYCOMIMETICS INC
		DATE OF NAME CHANGE:	20030711
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>tm2518376-4_3seq1.xml
<DESCRIPTION>OWNERSHIP DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2025-06-13</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001253689</issuerCik>
        <issuerName>CRESCENT BIOPHARMA, INC.</issuerName>
        <issuerTradingSymbol>CBIO</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0002075230</rptOwnerCik>
            <rptOwnerName>Bispham Barbara Harlin</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O CRESCENT BIOPHARMA, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>300 FIFTH AVENUE</rptOwnerStreet2>
            <rptOwnerCity>WALTHAM</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02451</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>See Remarks</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Option (Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>6.16</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F1"/>
                <footnoteId id="F2"/>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <value>2035-01-13</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Ordinary Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>106235</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Effective as of June 13, 2025 (the &quot;Effective Time&quot;), (i) a wholly-owned subsidiary of GlycoMimetics, Inc. (&quot;GlycoMimetics&quot;) merged with and into Crescent Biopharma, Inc. (&quot;Pre-Merger Crescent&quot;) with Pre-Merger Crescent continuing as a wholly owned subsidiary of GlycoMimetics and the surviving corporation of the merger (the &quot;First Merger&quot;), (ii) immediately thereafter, Pre-Merger Crescent merged with and into a second wholly-owned subsidiary of GlycoMimetics (&quot;Second Merger Sub&quot;), with Second Merger Sub being the surviving entity of the merger under the name Crescent Biopharma Operating Company, LLC (the &quot;Second Merger&quot; and, together with the First Merger, the &quot;Merger&quot;). At the Effective Time, GlycoMimetics changed its name to &quot;Crescent Biopharma, Inc.&quot; (hereinafter, the &quot;Issuer&quot;).</footnote>
        <footnote id="F2">This Form gives effect to the Issuer's completion of a conversion from a corporation organized under the laws of the State of Delaware (the &quot;Delaware Corporation&quot;) to an exempted company incorporated under the laws of the Cayman Islands (the &quot;Cayman Company&quot;), effective as of June 16, 2025. In connection therewith, each outstanding option or right to acquire shares of common stock of the Delaware Corporation continued in existence in the form of and automatically became an option or right to acquire an equal number of ordinary shares of the Cayman Company under the same terms and conditions.</footnote>
        <footnote id="F3">Represents options to purchase the Issuer's ordinary shares received by the Reporting Person in the Merger in exchange for options of Pre-Merger Crescent held by the Reporting Person prior to the Merger. This option will vest as to 25% on January 13, 2026 and in equal monthly installments thereafter through January 13, 2029, subject to the Reporting Person's continued service to the Issuer on each such vesting date.</footnote>
    </footnotes>

    <remarks>General Counsel and Corporate Secretary. Exhibit 24 - Power of Attorney</remarks>

    <ownerSignature>
        <signatureName>/s/ Barbara Bispham</signatureName>
        <signatureDate>2025-06-30</signatureDate>
    </ownerSignature>
</ownershipDocument>
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<DOCUMENT>
<TYPE>EX-24
<SEQUENCE>2
<FILENAME>tm2518376d4_ex24.htm
<DESCRIPTION>EXHIBIT 24
<TEXT>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><B>Exhibit 24</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>POWER OF ATTORNEY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Know all by these presents
that the undersigned hereby constitutes and appoints each of Richard Scalzo, Ryan Lynch and Ryan A. Murr, and any of their substitutes,
signing singly, as the undersigned&rsquo;s true and lawful attorney-in-fact to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">execute for and on behalf of the undersigned, in the undersigned&rsquo;s capacity as a director and/or
officer of Crescent Biopharma, Inc. (the &ldquo;Company&rdquo;), Forms 3, 4, and 5 in accordance with Section 16(a) of the Securities
Exchange Act of 1934, as amended, and the rules thereunder;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">do and perform any and all acts for and on behalf of the undersigned which may be necessary or desirable
to complete and execute any such Form 3, 4, or 5, complete and execute any amendment or amendments thereto, and timely file such form
with the U.S. Securities and Exchange Commission and any securities exchange or similar authority; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">take any other action of any type whatsoever in connection with the foregoing which, in the opinion of
such attorney-in-fact, may be of benefit to, in the best interest of, or legally required by, the undersigned, it being understood that
the documents executed by such attorney-in-fact on behalf of the undersigned pursuant to this Power of Attorney shall be in such form
and shall contain such terms and conditions as such attorney-in-fact may approve in such attorney-in-fact&rsquo;s discretion.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The undersigned hereby grants
to each such attorney-in-fact full power and authority to do and perform any and every act and thing whatsoever requisite, necessary,
or proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned
might or could do if personally present, with full power of substitution or revocation, hereby ratifying and confirming all that each
such attorney-in-fact, or such attorney-in-fact&rsquo;s substitute or substitutes, shall lawfully do or cause to be done by virtue of
this Power of Attorney and the rights and powers herein granted. The undersigned also ratifies hereby any action previously taken by each
such attorney-in-fact that would have been authorized by this Power of Attorney if it had been in effect at the time such action was taken.
The undersigned acknowledges that each attorney-in-fact, in serving in such capacity at the request of the undersigned, is not assuming,
nor is the Company assuming, any of the undersigned&rsquo;s responsibilities to comply with Section 16 of the Securities Exchange Act
of 1934, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Power of Attorney shall
remain in full force and effect until the earliest of: (a) the undersigned is no longer required to file Forms 3, 4, and 5 with respect
to the undersigned&rsquo;s holdings of and transactions in securities issued by the Company, (b) revocation by the undersigned in a signed
writing delivered to the foregoing attorneys-in-fact, or (c) as to any attorney-in-fact, individually, until such attorney-in-fact is
no longer employed by the Company or its subsidiaries or Gibson, Dunn &amp; Crutcher LLP, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">IN WITNESS WHEREOF, the undersigned has caused
this Power of Attorney to be executed as of June 13, 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; border-collapse: collapse; width: 100%">
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">/s/ Barbara Bispham</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Barbara Bispham</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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