<SEC-DOCUMENT>0001193125-25-315863.txt : 20251211
<SEC-HEADER>0001193125-25-315863.hdr.sgml : 20251211
<ACCEPTANCE-DATETIME>20251211160002
ACCESSION NUMBER:		0001193125-25-315863
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20251211
DATE AS OF CHANGE:		20251211

SUBJECT COMPANY:	

	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

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-87811
		FILM NUMBER:		251564850

	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

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ForGrowth III PA B.V.
		CENTRAL INDEX KEY:			0002050902
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			P7
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G

	BUSINESS ADDRESS:	
		STREET 1:		FORBION CAPITAL PARTNERS
		STREET 2:		GOOIMEER 2-35
		CITY:			NAARDEN
		STATE:			P7
		ZIP:			1411
		BUSINESS PHONE:		31 356993000

	MAIL ADDRESS:	
		STREET 1:		FORBION CAPITAL PARTNERS
		STREET 2:		GOOIMEER 2-35
		CITY:			NAARDEN
		STATE:			P7
		ZIP:			1411
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:xsd="http://www.w3.org/2001/XMLSchema" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
  <headerData>
    <submissionType>SCHEDULE 13G</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0002050902</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <securitiesClassTitle>Ordinary Shares, $0.001 par value per share</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>12/08/2025</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0001253689</issuerCik>
        <issuerName>Crescent Biopharma, Inc.</issuerName>
        <issuerCusip>G2545C104</issuerCusip>
        <issuerPrincipalExecutiveOfficeAddress>
          <street1 xmlns="http://www.sec.gov/edgar/common">300 Fifth Avenue</street1>
          <city xmlns="http://www.sec.gov/edgar/common">Waltham</city>
          <stateOrCountry xmlns="http://www.sec.gov/edgar/common">MA</stateOrCountry>
          <zipCode xmlns="http://www.sec.gov/edgar/common">02451</zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(c)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>ForGrowth III PA B.V.</reportingPersonName>
      <memberGroup>b</memberGroup>
      <citizenshipOrOrganization>P7</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0</soleVotingPower>
        <sharedVotingPower>1677852</sharedVotingPower>
        <soleDispositivePower>0</soleDispositivePower>
        <sharedDispositivePower>1677852</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>1677852</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>6.1</classPercent>
      <typeOfReportingPerson>OO</typeOfReportingPerson>
      <comments>The percent of class is based upon 27,556,767 Ordinary Shares outstanding, consisting of (i) 13,892,516 Ordinary outstanding as of November 3, 2025, as reported in the Issuer's Form 10-Q filed on November 6, 2025, plus (ii) an aggregate of 13,664,251 Ordinary Shares issued on December 8, 2025 pursuant to a private placement by the Issuer. </comments>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Forbion Growth Opportunities Fund III Cooperatief U.A.</reportingPersonName>
      <memberGroup>b</memberGroup>
      <citizenshipOrOrganization>P7</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0</soleVotingPower>
        <sharedVotingPower>1677852</sharedVotingPower>
        <soleDispositivePower>0</soleDispositivePower>
        <sharedDispositivePower>1677852</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>1677852</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>6.1</classPercent>
      <typeOfReportingPerson>OO</typeOfReportingPerson>
      <comments>The percent of class is based upon 27,556,767 Ordinary Shares outstanding, consisting of (i) 13,892,516 Ordinary outstanding as of November 3, 2025, as reported in the Issuer's Form 10-Q filed on November 6, 2025, plus (ii) an aggregate of 13,664,251 Ordinary Shares issued on December 8, 2025 pursuant to a private placement by the Issuer. </comments>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Forbion Growth III Management B.V.</reportingPersonName>
      <memberGroup>b</memberGroup>
      <citizenshipOrOrganization>P7</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0</soleVotingPower>
        <sharedVotingPower>1677852</sharedVotingPower>
        <soleDispositivePower>0</soleDispositivePower>
        <sharedDispositivePower>1677852</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>1677852</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>6.1</classPercent>
      <typeOfReportingPerson>OO</typeOfReportingPerson>
      <comments>The percent of class is based upon 27,556,767 Ordinary Shares outstanding, consisting of (i) 13,892,516 Ordinary outstanding as of November 3, 2025, as reported in the Issuer's Form 10-Q filed on November 6, 2025, plus (ii) an aggregate of 13,664,251 Ordinary Shares issued on December 8, 2025 pursuant to a private placement by the Issuer. </comments>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>Crescent Biopharma, Inc.</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>300 FIFTH AVENUE, WALTHAM, MA, 02451</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>This statement is being filed by ForGrowth III PA B.V. ("ForGrowth III"), Forbion Growth Opportunities Fund III Cooperatief U.A. ("Forbion Growth III COOP") and Forbion Growth III Management B.V. ("Forbion Growth III"). ForGrowth III, Forbion Growth III COOP and Forbion Growth III are sometimes referred to collectively as the "Reporting Persons".</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>The address of the principal business and principal office of each of the Reporting Persons is c/o Forbion Capital Partners, Gooimeer 2-35, 1411 DC Naarden, The Netherlands.</principalBusinessOfficeOrResidenceAddress>
        <citizenship>Each of the Reporting Persons is organized under the laws of the Netherlands. </citizenship>
      </item2>
      <item3>
        <notApplicableFlag>Y</notApplicableFlag>
      </item3>
      <item4>
        <amountBeneficiallyOwned>ForGrowth III directly owns 1,677,852 Ordinary Shares of the Issuer. Forbion Growth III COOP, the sole shareholder of ForGrowth III, and Forbion Growth III, as director of each of ForGrowth III and Forbion Growth III COOP, may be deemed to have voting and investment power over the shares held directly by ForGrowth III.</amountBeneficiallyOwned>
        <classPercent>The Ordinary Shares beneficially owned by the Reporting Persons represent approximately 6.1% of the outstanding Ordinary Shares of the Issuer, based upon 27,556,767 Ordinary Shares outstanding, consisting of (i) 13,892,516 Ordinary outstanding as of November 3, 2025, as reported in the Issuer's Form 10-Q filed on November 6, 2025, plus (ii) an aggregate of 13,664,251 Ordinary Shares issued on December 8, 2025 pursuant to a private placement by the Issuer.</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>0</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>1,677,852</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>0</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>1,677,852</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>Y</notApplicableFlag>
      </item5>
      <item6>
        <notApplicableFlag>Y</notApplicableFlag>
      </item6>
      <item7>
        <notApplicableFlag>Y</notApplicableFlag>
      </item7>
      <item8>
        <notApplicableFlag>N</notApplicableFlag>
        <identificationAndClassificationOfGroupMembers>The Reporting Persons are making this single, joint filing because they may be deemed to constitute a "group" within the meaning of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The Reporting Persons disclaim membership in a group and this report shall not be deemed an admission by any of the Reporting Persons that they are or may be members of a "group" for purposes of Rule 13d-5 or for any other purpose.</identificationAndClassificationOfGroupMembers>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.</certifications>
      </item10>
    </items>
    <signatureInformation>
      <reportingPersonName>ForGrowth III PA B.V.</reportingPersonName>
      <signatureDetails>
        <signature>/s/ M.A. van Osch and /s/ G.J. Mulder</signature>
        <title>M.A. van Osch and G.J. Mulder, Directors of its Director</title>
        <date>12/11/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Forbion Growth Opportunities Fund III Cooperatief U.A.</reportingPersonName>
      <signatureDetails>
        <signature>/s/ M.A. van Osch and /s/ G.J. Mulder</signature>
        <title>M.A. van Osch and G.J. Mulder, Directors of its Director</title>
        <date>12/11/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Forbion Growth III Management B.V.</reportingPersonName>
      <signatureDetails>
        <signature>/s/ M.A. van Osch and /s/ G.J. Mulder</signature>
        <title>M.A. van Osch and G.J. Mulder, Directors</title>
        <date>12/11/2025</date>
      </signatureDetails>
    </signatureInformation>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
