Crescendo Biologics Secures $32 Million in Funding and Announces the Expansion of the CB307 Phase 1b Trial in PSMA+ Solid Tumors
Tuesday, July 25, 2023
Crescendo Biologics Ltd (Crescendo) is a clinical stage immuno-oncology company focused on developing novel, targeted T cell enhancing therapeutics. Recently, the company announced its plans to enhance the ongoing Phase 1b clinical trial of CB307 by introducing a new pembrolizumab (anti-PD-1) combination expansion cohort. This addition will be financed with $32 million, with support from major existing shareholders, including Sofinnova Partners, Andera Partners, IP Group BioNTech, Takeda, and Quan Capital, as well as new investor Kreos Capital.
CB307, the company's lead proprietary program, is advancing into the cohort expansion phase of the Phase 1b clinical trial. The ongoing monotherapy expansion cohort is currently studying individuals with PSMA+ metastatic castration-resistant prostate cancer (mCRPC) in a last-line setting. The new pembrolizumab combination expansion cohort is anticipated to commence in Q3 2023 and will be open to those with PSMA+ mCRPC.
The CEO of Crescendo Biologics, Theodora Harold, expressed excitement about securing additional financing to accelerate the clinical development of CB307. She highlighted preclinical and clinical data presented by Crescendo and others, demonstrating the promising effects of adding PD-1 antagonism to T cell co-stimulation, including CD137 agonism. Harold extended her gratitude to all participants in the trial and the existing investors for their continuous support and welcomed Kreos Capital as a new partner in this venture.
Sonia Benhamida, Principal at Kreos Capital, praised Crescendo's team and the potential of the Humabody® VH platform, evident in both their proprietary and partnered programs. Kreos Capital's investment model aligns well with Crescendo's current needs, and they are enthusiastic about supporting the expanded clinical plan for CB307.
CB307, a first-in-class, half-life extended, CD137 x PSMA bispecific, aims to deliver a safer and more durable T cell response to cancer while avoiding systemic toxicity. The clinical program for CB307 is currently underway in adults with PSMA positive solid tumors (NCT04839991). The program was developed by Crescendo using its unique and patent-protected transgenic mouse platform, which generates fully human VH domain building blocks called Humabody® VH.
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