Safeguard Scientifics Co-Leads $28M Series D for Crescendo Bioscience

Molecular diagnostics company developed and is commercializing first and only multi-biomarker blood test—VectraTM DA—for rheumatoid arthritis to help physicians make more informed treatment decisions

Wayne, PA, January 3, 2013Safeguard Scientifics, Inc. (NYSE:SFE), a holding company that provides growth capital and operational support to life sciences and technology companies, today announced that it deployed $10 million as part of a $28 million Series D financing for Crescendo Bioscience, a South San Francisco, CA-based molecular diagnostics company focused on rheumatology. Safeguard co-led the financing with Skyline Ventures, with the remaining $8 million funded by existing investors Mohr Davidow Ventures, Kleiner Perkins Caufield & Byers, aeris CAPITAL AG and others. Proceeds will be used to further expand Crescendo’s sales and clinical development efforts for VectraTM DA, the first and only multi-biomarker blood test for rheumatoid arthritis (RA) that helps physicians make more informed treatment decisions.

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Categories: Life Sciences Industry Network

Author:NJ Tech Council

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