Crescendo Raises $70m In Largest European Biotech Series B Of Year
Crescendo Biologics raises $70m to take its first Humabody asset into clinical trials for prostate cancer; the company’s CEO Peter Pack tells Scrip more about its diverse financiers and plans for big pharma partnering in the future.
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The first half of 2018 appeared promising for the European biopharma sector, with multiple large investment funds promising cash to young, innovative companies in the region – a turnaround after years of life science firms suffering from a funding drought across Europe.
Crescendo Biologics of the UK has raised £17.5m ($28m) in a series A financing led by Imperial Innovations and including new investor Astellas Venture Management (AVM). The UK biotech says the cash will fund its lead program, which is in topical dermatology, through to clinical proof of concept. Founding seed investor Sofinnova Partners also contributed significantly to the round.
It is time for In Vivo's 12th annual Deals of the Year contest. We've selected 15 nominees in three categories – Top Alliance, Top Financing and Top M&A – and you get to pick the winners.