Crescendo Biologics Raises $70m in Series B Financing

Cambridge, UK, 30 April, 2018 — Crescendo Biologics Ltd (Crescendo) the developer of multi-functional
biologics with a focus on novel targeted T-cell engagers, has announced that it has completed a
$70 million (€57 million) Series B financing.

The funds will be used to advance the development of its lead programme, CB307, which stimulates
local activation of tumour-specific T-cells, into the clinic and further expand its internal pipeline of

Crescendo Biologics is developing potent, multi-functional Humabody® therapeutics in oncology. It is
pursuing novel Humabody®-based product opportunities, through in-house development and strategic
partnerships. To date, it has a collaboration with Takeda Pharma worth up to $790m.

The Series B round was led by Andera Partners (formerly Edmond de Rothschild Investment Partners)
with Europe’s largest life science fund Biodiscovery V, and joined by Quan Capital with its leading life
sciences fund, Quan Venture Fund I, and Crescendo’s existing investors Sofinnova Partners, IP Group,
EMBL and Takeda Ventures. This is the largest disclosed Series B biotech financing in Europe in 2018.

Gilles Nobécourt, Partner at Andera Partners and lead investor said: “We have been very impressed with
the high quality of the novel biology behind multi-functional Humabodies and Crescendo’s growing
development portfolio. Crescendo is a true pioneer in the development of targeted T-cell engagement
and we are looking forward to working with the team.”

Graziano Seghezzi, Managing Partner at Sofinnova Partners added: “We have been supporting
Crescendo since its seed round in 2009, and then through the Series A together with IP Group, the
substantial size of the round and the participation of new investors of the Series B underlines the
potential and success of VH-based Humabodies.”

Marietta Wu, Managing Director of Quan Capital which invested a significant amount in the round,
explained: “We have been especially drawn to the Humabody® platform that offers multiple potential
advantages over the current antibody (IgG) approaches and could enable the Company to quickly build a
substantial portfolio of impactful therapeutics. We look forward to joining our partners to rapidly
advance Crescendo’s portfolio into clinical development where we can improve patient lives.”

Peter Pack CEO of Crescendo said: “We appreciate the strong support – past and present – from our
current investors, who have enabled us to grow the Company to this point. In this round, we are also
welcoming two new investors, Andera Partners and Quan Capital. We look forward to taking our lead
programme, CB307 into the clinic and further exploit our technology platform with new products.”

VP R&D Dr James Legg will be presenting “Developing Humabody VH therapeutics for Immuno Oncology” at the 3rd Annual Advances in Immuno-Oncology Congress on the 24th May 2018.

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