# Fairmount Funds Management LLC — capital_raise/public_offering [announced]
Source: SEC API (secapi.ai) · situation sit_9db35524fdd3742bf4f7 · retrieved 2026-08-11T15:52:44.644Z

## Overview
Crescent Biopharma, Inc. (formerly GlycoMimetics Inc.) is a pharmaceutical company engaged in pharmaceutical preparations.

On July 16, 2026, Fairmount Healthcare Fund II L.P. ("Fund II") purchased 853,450 ordinary shares at $14.50 per share and Pre-Funded Warrants to purchase 525,897 ordinary shares at $14.499 per warrant in an underwritten public offering of Crescent Biopharma, Inc. for an aggregate purchase price of $20,000,005.60. The Pre-Funded Warrants have an exercise price of $0.001 and are immediately exercisable, subject to a beneficial ownership limitation of 9.99% of outstanding ordinary shares. The Reporting Persons entered into a 60-day lock-up agreement with the underwriters (Jefferies LLC and TD Securities (USA) LLC) restricting sales of the Company's securities without consent.

## Terms
- Counterparty: Crescent Biopharma, Inc. · Deal value: $20.0M · Consideration: cash · Stake: 16.5% · Price/share: $14.5

## Key dates
- Announced 2026-07-20

## Timeline
- 2026-07-20 · SCHEDULE 13D/A (0001104659-26-085114): SCHEDULE 13D/A - Fairmount Funds Management LLC — *Crescent Biopharma, Inc. (formerly GlycoMimetics Inc.) is a pharmaceutical company engaged in pharmaceutical preparations.* On July 16, 2026, Fairmount Healthcare Fund II L.P. ("Fund II") purchased 853,450 ordinary shares at $14.50 per share and Pre-Funded Warrants to purchase 525,897 ordinary shares at $14.499 per warrant in an underwritten public offering of Crescent Biopharma, Inc. for an aggregate purchase price of $20,000,005.60. The Pre-Funded Warrants have an exercise price of $0.001 and are immediately exercisable, subject to a beneficial ownership limitation of 9.99% of outstanding ordinary shares. The Reporting Persons entered into a 60-day lock-up agreement with the underwriters (Jefferies LLC and TD Securities (USA) LLC) restricting sales of the Company's securities without consent.
  https://www.sec.gov/Archives/edgar/data/1802528/0001104659-26-085114.txt

## Citations
- 0001104659-26-085114 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000110465926085114