Andera leads $70m series-B for Crescendo Biologics

Quan Capital, Sofinnova Partners, IP Group, EMBL and Takeda Ventures also took part in the funding round.

The fresh capital will enable the company to invest in the development of its lead programme, which stimulates local activation of tumour-specific T-cells. The funding will enable the development to progress to the clinical stage.

Andera (formerly Edmond de Rothschild Investment Partners) drew capital from BioDiscovery V to support the transaction, a €345m fund that held its final close in February 2018.

Previous funding
Sofinnova led a £4.5m seed funding round for Crescendo in October 2009.

Crescendo then raised £17.5m in a series-A financing round in December 2013, led by venture capital firm Imperial Innovations. Imperial contributed £6.4m to the total for a 26.9% stake in the company, while Astellas Venture Management and Sofinnova also took part.

Two years later, EMBL Ventures, the venture arm of the European Molecular Biology Laboratory, invested a further £2m in the series-A funding round, bringing its total raised to £19.5m.

Company
Headquartered in Cambridge and founded in 2008, Crescendo is a biotechnology company focused on the discovery and development of human VH antibody fragment therapeutics through its transgenics platform. VH domains are the smallest, most robust antibody fragments and are used in tissue and tumour penetration.

People
Andera Partners – Gilles Nobécourt (partner).
Sofinnova Partners – Graziano Seghezzi (managing partner).
Quan Capital – Marietta Wu (managing director).
Crescendo Biologics – Peter Pack (CEO).

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• Topics
• Early-stage
• UK / Ireland
• Healthcare
• United Kingdom
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• Andera Partners
• Sofinnova Partners