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Crescendo Biologics Raises £17.5M ($28M) in Series A Financing
Date:12/17/2013

CAMBRIDGE, England, December 17, 2013 /PRNewswire/ --


 

New funds to drive development of best-in-class fully human VH antibody fragment therapeutics

Crescendo Biologics Limited (Crescendo) today announces it has raised £17.5m ($28m) in a Series A financing led by Imperial Innovations and including new investor Astellas Venture Management (AVM). Founding seed investor Sofinnova Partners also contributed significantly to the round. The funds raised will be used to advance Crescendo's in-house development programmes in inflammation and oncology utilising its best-in-class VH fragment discovery platform centred on the Crescendo Mouse.

VH domains are the smallest, most robust antibody fragments and as such have advantages for tissue and tumour penetration, engineering of multivalent products, topical delivery and simple manufacture. They are also the most extensively validated fragment in the clinic. The unique Crescendo Mouse harnesses the benefits of in vivo maturation, which naturally optimises affinity and biophysical properties, to generate human VH with superior properties for drug development. Critical to this is the use of the Company's proprietary triple knockout mouse background which eliminates all mouse antibody light chain contamination.  

Crescendo is establishing an internal pipeline including a transformational topical biologic for psoriasis and multivalent products for oncology indications. These programmes draw on the power of Crescendo's VH platform to produce novel, high-value product candidates to address areas of significant medical need.

Mike Romanos, CEO of Crescendo, said, "Transgenic mice have had a truly major impact in monoclonal antibodies, where they have delivered the majority of recent product approvals. The Crescendo Mouse now achieves the same benefits
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SOURCE Crescendo Biologics
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