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19 May, 2021 - 14:45 By Tony Quested

New CFO fortifies top team at Crescendo Biologics

Crescendo Biologics in Cambridge, a clinical-stage immuno-oncology company developing novel, targeted T cell enhancing therapeutics, has further strengthened its top team with a key hire as CFO.

Dr Michael Booth becomes Chief Financial Officer having enjoyed more than 20 years’ experience in corporate finance roles within the biopharmaceutical industry.

He joins at an important stage of the company’s development following the initiation of its Phase Ia/Ib trial for Crescendo’s lead Humabody® programme, CB307, a first-in-class PSMA x CD137 T cell enhancer. 

Mike will be responsible for Crescendo’s financial strategy and reporting, as well as global investor relations.

Prior to joining Crescendo, Mike served as Division Vice-President, Investor Relations & Corporate Responsibility at NASDAQ-quoted Incyte. Before that, he was Senior Vice-President, Communications & Corporate Affairs at Algeta ASA, where he was responsible for corporate communications and capital markets strategies. 

Prior to Algeta, Mike was Managing Director at The Trout Group, where he helped build the European client base of biotech and healthcare companies, delivering strategic and investor relations consultancy services. 

He has also held pan-European biotechnology equity research roles at Canaccord, Bank of America, and UBS Investment Bank. Mike earned his DPhil in Neuroscience from the University of Oxford and graduated from the University of St Andrews with a BSc in Psychology.

Crescendo CEO Theodora Harold, said: “We are delighted to welcome Mike to the team. His proven track record and wide-ranging financial expertise and relationships will be crucial as Crescendo enters its next phase of growth.

“We now have a highly experienced team in place, committed to progressing our pipeline of innovative, first-in-class, T cell enhancing programmes. I am confident Mike will add tremendous value as Crescendo looks to achieve its full potential.”

Dr Booth added: “Crescendo is an ambitious company with a unique platform and an innovative pipeline of T cell enhancing therapeutics. This is a very exciting time to join the team given that the first clinical trial for CB307, the lead Humabody ® programme, is now underway.”

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 anticancer effect whilst avoiding systemic toxicity.

The company’s ability to develop multi-functional Humabody® therapeutics is based on its unique, patent protected, transgenic mouse platform generating 100% 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 biology and superior bio-distribution. This results in 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 a global, multi-target discovery and development collaboration with Takeda, a clinical development partnership with Cancer Research UK and an exclusive, worldwide licensing agreement with Zai Lab.

The business is backed by blue-chip investors including Sofinnova Partners, Andera Partners, IP Group, Takeda Ventures, Quan Capital and Astellas.

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