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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Private Company Edition: Kriya raised the first $270m of its now $430m-plus series C venture capital round in May 2022 and has raised more than $600m to date. Also, Nexo launched with $60m in series A cash, Ossium brought in $52m in series A financing and cell therapy CDMO Kincell launched with $36m.
Immuno-oncology is a key area for biological drug development and activity has exploded over the past decade. Today, IO therapies represent a third of the biologics pipeline, and antibody development remains the focus.
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.