Welcome!

News Feed Item

EMBL Ventures Invests £2M ($3.3M) in a Second Close of Crescendo Biologics' Series A Financing

CAMBRIDGE, England, April 3, 2014 /PRNewswire/ --

£19.5M raised to drive development of best-in-class fully human VH antibody fragment therapeutics 

Crescendo Biologics Limited (Crescendo) today announces it has raised a further £2m ($3.3m), from EMBL Ventures, in a final close of its Series A financing. Originally announced in December 2013, the Series A now totals £19.5m. It was led by Imperial Innovations and included new investor Astellas Venture Management (AVM). Founding seed investor Sofinnova Partners also contributed significantly to the round.

The funding is being 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.

Mike Romanos, CEO of Crescendo, said, "We are delighted to announce that EMBL Ventures is joining the round. This is further recognition of the quality of our science and the potential of our antibody fragment technology to deliver new, high-value therapeutics to our own pipeline and to strategic partners."

Peter Pack, Partner of EMBL Ventures, said, "Crescendo has established a pre-eminent position in antibody fragment technology through a unique combination of features including in vivo maturation, diversity of the immune response, unprecedented expression yields,and a plug&play modularity based on fully human Ig sequences. With its first programmes advancing towards the clinic, the Company is in an extremely strong position to benefit from its ability to generate highly differentiated therapeutics."

Transgenic mice have had a major impact in monoclonal antibodies, where they have delivered the majority of recent product approvals. The Crescendo Mouse now achieves the same benefits for VH antibody fragments that is fully human sequence with excellent potency and druggability.

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.

About Crescendo Biologics Ltd 

Crescendo Biologics, based in Cambridge, UK, is focused on the discovery and development of best-in-class human VH antibody fragment therapeutics using its novel transgenic platform. Crescendo is enabling the major VH product formats (multivalent, half-life-extended and topical) for its own pipeline, focused in inflammation and oncology, and to make it the partner of choice for human VH fragment therapeutics.

http://www.crescendobiologics.com

About EMBL Ventures 

EMBL Ventures is the venture vehicle of the European Molecular Biology Laboratory (EMBL). At EMBL Ventures, we originate companies and supply financing for the development of next generation technologies towards proof of concept. Based on this approach, six of our sixteen portfolio companies have generated to date a transaction volume of more than € 1.5 billion in risk sharing deals with Pharma partners.

EMBL is at the forefront of innovation in life sciences research, technology development and transfer. EMBL is housed at five sites in Europe (headquarter Heidelberg) and has more than 1.700 staff from 60 nations whose research and expertise cover the whole spectrum of molecular biology.

About Imperial Innovations 

Innovations creates, builds and invests in pioneering technologies addressing global problems in healthcare, energy, engineering and the environment. It combines deep understanding of science and technology with commercial acumen and strong investment expertise. In December 2010 Innovations raised £140m to accelerate the making of, and increase the size of, investments in companies established under its existing intellectual property pipeline agreement with Imperial College London. The Group also intends to invest in companies founded by or based on technology from the University of Oxford, the University of Cambridge and University College London.

http://www.imperialinnovations.co.uk

About Astellas Venture Management 

Astellas Venture Management LLC. is the corporate venture capital arm of Astellas Pharma Inc., a global pharmaceutical company headquartered in Tokyo, Japan, which was formed through the merger of Fujisawa Pharmaceutical Co. Ltd. and Yamanouchi Pharmaceutical Co. Ltd. in April 2005. AVM's investment objective is to find a venture company with a proprietary technology and facilitate its growth by utilising Astellas' experience and network within the biotechnology field. AVM's ability to offer not only investment funds, but also the Astellas Group's powerful combination of scientific and technical expertise, depth of drug development and marketing knowledge and long-term business perspective, can give entrepreneurs and investors the very best chance for their rapid growth and success.

http://www.astellasventures.com

About Sofinnova Partners 

Sofinnova Partners is an independent venture capital firm based in Paris, France. For more than 40 years, the firm has backed nearly 500 companies at different stages of their development - pure creations, spin-offs, as well as turnaround situations - and worked alongside Europe's key entrepreneurs in the Life Sciences industry. With €1.3 billion of funds under management, Sofinnova Partners has created market leaders with its experienced team and hands-on approach in building portfolio companies through to exit.

http://www.sofinnova.fr

Contacts 

Mike Romanos
Crescendo Biologics
Tel: +44-(0)1223-497140
Email: [email protected]

Chris Gardner
CitigateDeweRogerson
Tel: +44-(0)207-638-9571
Email: [email protected]

SOURCE Crescendo Biologics

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that Ocean9will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Ocean9 provides cloud services for Backup, Disaster Recovery (DRaaS) and instant Innovation, and redefines enterprise infrastructure with its cloud native subscription offerings for mission critical SAP workloads.
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists will examine how DevOps helps to meet th...
SYS-CON Events announced today that CollabNet, a global leader in enterprise software development, release automation and DevOps solutions, will be a Bronze Sponsor of SYS-CON's 20th International Cloud Expo®, taking place from June 6-8, 2017, at the Javits Center in New York City, NY. CollabNet offers a broad range of solutions with the mission of helping modern organizations deliver quality software at speed. The company’s latest innovation, the DevOps Lifecycle Manager (DLM), supports Value S...
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory?
The 21st International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Machine Learning and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding busin...
SYS-CON Events announced today that Hitachi Data Systems, a wholly owned subsidiary of Hitachi LTD., will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City. Hitachi Data Systems (HDS) will be featuring the Hitachi Content Platform (HCP) portfolio. This is the industry’s only offering that allows organizations to bring together object storage, file sync and share, cloud storage gateways, and sophisticated search and...
SYS-CON Events announced today that Progress, a global leader in application development, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Enterprises today are rapidly adopting the cloud, while continuing to retain business-critical/sensitive data inside the firewall. This is creating two separate data silos – one inside the firewall and the other outside the firewall. Cloud ISVs oft...
SYS-CON Events announced today that delaPlex will exhibit at SYS-CON's @CloudExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. delaPlex pioneered Software Development as a Service (SDaaS), which provides scalable resources to build, test, and deploy software. It’s a fast and more reliable way to develop a new product or expand your in-house team.
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Peak 10 provides reliable, tailored data center and network services, cloud and managed services. Its solutions are designed to scale and adapt to customers’ changing business needs, enabling them to lower costs, improve performance and focus intern...
SYS-CON Events announced today that Cloud Academy will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloud Academy is the industry’s most innovative, vendor-neutral cloud technology training platform. Cloud Academy provides continuous learning solutions for individuals and enterprise teams for Amazon Web Services, Microsoft Azure, Google Cloud Platform, and the most popular cloud computing technologies. Ge...
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
Existing Big Data solutions are mainly focused on the discovery and analysis of data. The solutions are scalable and highly available but tedious when swapping in and swapping out occurs in disarray and thrashing takes place. The resolution for thrashing through machine learning algorithms and support nomenclature is through simple techniques. Organizations that have been collecting large customer data are increasingly seeing the need to use the data for swapping in and out and thrashing occurs ...
SYS-CON Events announced today that Fusion, a leading provider of cloud services, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Fusion, a leading provider of integrated cloud solutions to small, medium and large businesses, is the industry’s single source for the cloud. Fusion’s advanced, proprietary cloud service platform enables the integration of leading edge solutions in the cloud, including cloud...