Corporate Banner
Satellite Banner
Proteomics
Scientific Community
 
Become a Member | Sign in
Home>News>This Article
  News
Return

Crescendo Bioscience® Secures $28 Million in Series D Financing

Published: Friday, January 04, 2013
Last Updated: Friday, January 04, 2013
Bookmark and Share
Vectra™ DA used in more than 30,000 patients in 2012 milestone.

Crescendo Bioscience® has announced that it has completed a $28 Million Series D financing. The financing was led by Skyline Ventures and Safeguard Scientifics, Inc. and was joined by existing investors Mohr Davidow Ventures, Kleiner Perkins Caufield & Byers, aeris CAPITAL AG and others.

Ferghana Partners assisted Crescendo Bioscience in raising the Series D financing and served as its placement agent.

This round of funding will enable Crescendo to accelerate its commercialization efforts for Vectra DA, a novel test which assesses disease activity in rheumatoid arthritis patients.

“2012 was a very productive year in which we made significant investments in both the commercial and medical areas of our business,” said William A. Hagstrom, President and CEO of Crescendo Bioscience.

Hagstrom continued, “Over the last year, we expanded our field sales organization, which allowed us to increase our customer base to nearly 500 rheumatologists and significantly increase test volume to include samples from more than 30,000 patients. To facilitate this growth, we invested in laboratory infrastructure, automation and expanded web portal capabilities to better serve our clients. We also invested in expanding our medical team with rheumatology, immunology and industry expertise to drive additional studies, data generation and peer reviewed publications. With this new Series D financing and the addition of our newest investment partners, Skyline Ventures and Safeguard Scientifics, Inc., we believe that we can build on this progress and generate further momentum in our commercialization and clinical development programs. We look forward to this exciting partnership.”

Crescendo Bioscience is currently working with collaborators from leading medical institutions to improve upon the understanding of the underlying biology of RA.

Vectra DA is a precise, standardized multi-biomarker blood test validated to assess disease activity in RA. Vectra DA measures 12 immune, endothelial, bone, cartilage and metabolic biomarkers reflecting the underlying biology of RA.

Serum concentrations of the biomarkers are integrated into a proprietary algorithm that generates a disease activity score on a scale of 1 to 100.

Crescendo Bioscience is establishing long-term relationships with rheumatologists by providing objective, quantitative and replicable information to help physicians improve patient care and outcomes. All testing is performed at Crescendo Bioscience’s CLIA-certified laboratory.

“We are excited to be working with Crescendo Bioscience to build on its success,” said Leon Chen, Ph.D. at Skyline Ventures and who has joined Crescendo Bioscience’s Board of Directors.

Chen continued, “Crescendo Bioscience and Vectra DA represent not only an innovative technology in a focused market, but also have a strong business model and highly experienced management team-all critical factors in Skyline’s decision-making process to invest. We look forward to lending our expertise to help the company meet and exceed its potential.”

“Vectra DA addresses a large market with significant unmet needs and is already changing the way RA is being managed,” said Gary J. Kurtzman, MD, Managing Director, Life Sciences at Safeguard, who also joined Crescendo Bioscience’s Board of Directors.

Kurtzman continued, “Patients suffering from RA are treated by a concentrated group of only 3,500 rheumatologists who rely on a number of subjective measures to assess disease activity and response to treatment, which may lead to suboptimal outcomes. Vectra DA’s ability to provide an objective assessment addresses this opportunity head on.”


Further Information

Join For Free

Access to this exclusive content is for Technology Networks Premium members only.

Join Technology Networks Premium for free access to:

  • Exclusive articles
  • Presentations from international conferences
  • Over 3,000+ scientific posters on ePosters
  • More than 4,400+ scientific videos on LabTube
  • 35 community eNewsletters


Sign In



Forgotten your details? Click Here
If you are not a member you can join here

*Please note: By logging into TechnologyNetworks.com you agree to accept the use of cookies. To find out more about the cookies we use and how to delete them, see our privacy policy.

Related Content

Study Validates Use of Vectra DA Test as an Objective Measure of RA Disease Activity
Results published in Arthritis Care & Research support adoption of multi-biomarker blood test in combination with clinical assessment.
Thursday, July 12, 2012
Scientific News
Potential “Good Fat” Biomarker
New method to measure the activity of energy consuming brown fat cells could ease the testing weight loss drugs.
Computational Model Finds New Protein-Protein Interactions
Researchers at University of Pittsburgh have discovered 500 new protein-protein interactions (PPIs) associated with genes linked to schizophrenia.
New Insights into Gene Regulation
Researchers have solved the three-dimensional structure of a gene repression complex that is known to play a role in cancer.
Controlling RNA in Living Cells
Modular, programmable proteins can be used to track or manipulate gene expression.
Soy Shows Promise as Natural Anti-Microbial Agent
Soy isoflavones and peptides may inhibit the growth of microbial pathogens that cause food-borne illnesses, according to a new study from University of Guelph researchers.
Potential Target for Revolutionary Antibiotics
An international team of including the Lomonosov Moscow State University researchers discovered which enzyme enables Escherichia coli bacterium (E. coli) to breathe.
DNA Barcodes Gone Wild
A team of researchers at University of Toronto’s Donnelly Centre and Sinai Health System’s Lunenfeld-Tanenbaum Research Institute (LTRI) has developed a new technology that can stitch together DNA barcodes inside a cell to simultaneously search amongst millions of protein pairs for protein interactions.
Biomarkers for Profiling Prostate Cancer Patients
Exiqon A/S has announced the publication of validation of prognostic microRNA biomarkers for the aggressiveness of prostate cancer in independent cohorts.
Grant to Fund Million Peaks Project
The European Research Council (ERC) has awarded a prestigious Advanced Grant to Prof. Peter Schoenmakers, Prof. Albert Polman and Prof. Huib Bakker, all three of whom work at the University of Amsterdam (UvA).
Study Finds Factors That May Influence Influenza Vaccine Effectiveness
Researchers at NIH have suggested that the long-held approach to predicting seasonal influenza vaccine effectiveness may need to be revisited.
Scroll Up
Scroll Down
SELECTBIO

Skyscraper Banner
Go to LabTube
Go to eposters
 
Access to the latest scientific news
Exclusive articles
Upload and share your posters on ePosters
Latest presentations and webinars
View a library of 1,800+ scientific and medical posters
3,000+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
4,400+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FOR FREE!