Corporate Banner
Satellite Banner
Scientific Communities
Become a Member | Sign in
Home>News>This Article

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
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 2,600+ scientific posters on ePosters
  • More Than 3,800+ 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 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
Lung Repair and Regeneration Gene Discovered
New role for hedgehog gene offers better understanding of lung disease.
How Cell Growth Triggers Cell Division
Researchers in Jan Skotheim's lab have discovered a previously unknown mechanism that controls how large cells grow, an insight that could one day provide insight into attacking diseases such as cancer.
Microbe Sleuth
Tanja Bosak examines how life and the Earth evolved in tandem during their early history together.
3 Ways Viruses Have Changed Science for the Better
Viruses are really good at what they do, and we’ve been able to harness their skills to learn about – and potentially improve – human health in several ways.
Restoring Vision with Stem Cells
Age-related macular degeneration (AMRD) could be treated by transplanting photoreceptors produced by the directed differentiation of stem cells, thanks to findings published today by Professor Gilbert Bernier of the University of Montreal and its affiliated Maisonneuve-Rosemont Hospital.
The Age of Humans Controlling Microbes
Engineered bacteria could soon be used to detect environmental toxins, treat diseases, and sustainably produce chemicals and fuels.
Mixed Up Cell Transportation Key Piece of ALS and Dementia Puzzle
Researchers from the University of Toronto are one step closer to solving this incredibly complex puzzle, offering hope for treatment.
Metabolomic Platform Reveals Fundamental Flaw in Common Lab Technology
A new study led by scientists at The Scripps Research Institute (TSRI) shows that a technology used in thousands of laboratories, called gas chromatography mass spectrometry (GC-MS), fundamentally alters the samples it analyzes.
Atriva Therapeutics GmbH Develops Innovative Flu Drug
Highly effective against seasonal and pandemic influenza.
New Gene Therapy for Vision Loss From a Mitochondrial Disease
NIH-funded study shows success in targeting mitochondrial DNA in mice.
Scroll Up
Scroll Down
Skyscraper Banner

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
2,600+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
3,800+ scientific videos