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Crescendo Biologics Reaches Technical Milestone for a Second Target in Strategic Collaboration with Takeda

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Crescendo Biologics Ltd (Crescendo), the developer of targeted T-cell
engagers, today announced that it has achieved another technical
milestone in its collaboration with Takeda Pharmaceutical Company
Limited (Takeda; TSE:4502).

Crescendo's global, strategic, multi-target collaboration and license
agreement with Takeda
was announced in October 2016
. Under this agreement, Crescendo's
proprietary transgenic platform and engineering expertise is used to
identify and configure Humabody®-based therapeutics against
certain targets selected by Takeda.

This milestone, for an undisclosed amount, marks the successful delivery
of another highly diverse panel of functional Humabody® leads
against the second of Takeda's selected targets. The achievement of an
equivalent milestone related to the first of Takeda's selected targets
was announced
in April 2018
.

Dr Peter Pack, CEO of Crescendo, commented:

"Crescendo has once again demonstrated its ability to deliver, ahead of
schedule, a diverse selection of functional Humabody®
molecules meeting the stringent specifications outlined in the
collaboration agreement.

"Our highly productive relationship draws together Takeda's deep
oncology experience with Crescendo's expertise in developing optimally
configured Humabodies. Together we are fast progressing towards our goal
of developing next generation, highly modular and multi-functional
biologics against cancer. This is another important step forward for
Crescendo and further validates the power of our innovative technology."

-Ends-

Notes to Editors

About Crescendo Biologics Ltd

Crescendo Biologics is a biopharmaceutical company developing potent,
truly differentiated mono- and multifunctional Humabody®
therapeutics in oncology with a proprietary pipeline focus on innovative
targeted T-cell approaches.

At the heart of its proprietary pipeline, Crescendo has developed CB307,
a novel bispecific PSMA-targeted T-cell engager for the selective
activation of tumour-specific T-cells exclusively within the tumour
microenvironment, thereby avoiding systemic toxicity. This highly
modular format can be re-configured to create a pipeline of multiple
therapeutic candidates each treating a different cancer indication, by
targeting any of a range of alternative tumour-specific markers.

The Company's ability to develop mono- and 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 delivering novel biology and
superior biodistribution. This results in larger therapeutic windows
compared to conventional IgG-approaches.

Crescendo is pursuing novel Humabody®-based product
opportunities, through in-house development and strategic partnerships,
including multi-functional immuno-oncology modulators and Humabody®
Drug Conjugates (HDCs), the next generation of ADCs. Humabody®-based
formats can also be applied across a range of non-cancer indications.

Crescendo is located in Cambridge, UK, and is backed by blue-chip
investors including Sofinnova Partners, Andera Partners, IP Group, Quan
Capital, Takeda and Astellas.

For more information, please visit the website: www.crescendobiologics.com

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