Crescendo Bioscience Obtains $25,000,000 New Funding Round

  • Feed Type
  • Date
    9/8/2011
  • Company Name
    Crescendo Bioscience
  • Mailing Address
    341 Oyster Point Blvd South San Francisco, CA 94080
  • Company Description
    Crescendo Bioscience is developing a broad range of quantitative, objective diagnostic tools to provide Rheumatologists with deeper clinical insights to more effectively manage patients with autoimmune and inflammatory diseases.
  • Website
    http://www.crescendobio.com
  • Transaction Type
    Debt
  • Transaction Amount
    $25,000,000
  • Transaction Round
    Undisclosed
  • Proceeds Purposes
    The $25 million investment by Myriad Genetics is non-dilutive capital that is structured as long term debt and is accompanied by a three-year option to acquire Crescendo Bioscience for cash at a predetermined multiple of revenue based on the growth rate of Crescendo Bioscience at the time of option exercise. The option allows Crescendo Bioscience to continue to operate independently and may be exercised after Crescendo Bioscience attains a minimum revenue milestone.
  • M&A Terms
  • Venture Investor
    Myriad Genetics