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Crescendo Biologics Secures $32M And Announces Expansion Of Cb307 Phase 1B Trial In Psma+ Solid Tumours

PRIVATEJul 24, 2023

Amount Raised

$32 Million

Round Type

Funding Round

CambridgeBiotechnologyTherapeutics

Investors

Kreos CapitalQuan CapitalTakedaIp Group Bio N TechAndera PartnersSofinnova Partners

Description

Crescendo Biologics Ltd (Crescendo), a clinical stage immuno-oncology company developing novel, targeted T cell enhancing therapeutics, today announces that it plans to augment the ongoing Phase 1b clinical trial of CB307 through the addition of a new pembrolizumab (anti-PD-1) combination expansion cohort. Additional financing of $32 million has been secured with the support of all major existing shareholders, including Sofinnova Partners, Andera Partners, IP Group BioNTech, Takeda and Quan Capital, and new investor Kreos Capital to fund the additional combination expansion arm of the adaptive clinical protocol.

Who else raised in Therapeutics and Biotechnology around the same time

Companies in the same sectors as Crescendo Biologics that raised within 45 days of this round, from Fundz verified event records.

  • Corteria raised $70M (Funding Round) on September 7, 2023.
  • Rejuvenation Technologies raised $11M (Seed) on September 6, 2023.
  • Aptose Biosciences raised $3M (Seed) on September 6, 2023.
  • Nimbus Therapeutics raised $210M (Funding Round) on September 6, 2023.
  • Innovac Therapeutics raised $18M (Funding Round) on September 1, 2023.
  • Inhibrx raised $200M on August 31, 2023.

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Company Information

Company

Crescendo Biologics

Location

Cambridge, Maryland, United States

About

Crescendo Biologics is a private, clinical stage immuno-oncology company developing novel, targeted T cell enhancing Humabody® therapeutics. Leading its proprietary pipeline, Crescendo Biologics has developed CB307, a novel half-life extended CD137 x PSMA Humabody for the selective activation of tumour-specific T cells exclusively within the tumour microenvironment. CB307 is designed to achieve a longer lasting anti-cancer effect whilst avoiding systemic toxicity, and the clinical programme for CB307 is underway in patients with PSMA positive solid tumours (NCT04839991). CB693 is a half-life extended CD137 x MSLN Humabody and is the second proprietary clinical candidate from Crescendo’s T cell enhancing pipeline. Crescendo is also developing CB213, a preclinical PD-1 x LAG-3 multi-specific Humabody. The Company’s ability to develop multi-functional Humabody therapeutics is based on its unique, patent protected, transgenic mouse platform generating fully human VH domain building blocks (Humabody VH). These robust molecules can be configured to engage therapeutic targets in such a way that they deliver novel pharmacology and superior bio-distribution. This can lead to larger therapeutic windows compared to conventional IgG approaches. Humabody-based formats can also be applied across a range of non-cancer indications. Beyond Crescendo’s proprietary pipeline, the Company has global, multi-target discovery and development collaborations with both Takeda and BioNTech and an exclusive, worldwide licensing agreement with Zai Lab for ZL-1102 (formerly CB001, an anti-IL-17A targeting Humabody), which is expected to enter global Phase 2 clinical development in patients with psoriasis. Crescendo Biologics is located in Cambridge, UK, and is backed by blue-chip investors including Sofinnova Partners, Andera Partners, IP Group, BioNTech, Takeda and Quan Capital. For more information, please visit www.crescendobiologics.com.

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Crescendo Biologics raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.

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