The company plans to use the funds to fuel its diagnostic development work, focused on predicting drug response in various autoimmune diseases.
The company has raised $30 million to date to fund development and commercialization of its molecular diagnostic test to predict response to anti-TNF therapies.
The firm has partnered with Leiden University Medical Center to study the use of its Immray platform to diagnose patients with rheumatoid arthritis.
The firm is adding data on patient risk for radiographic progression and cardiovascular events to the test, which was recently included in the ACR guidelines.
Following its IPO in September, the company is expanding its presence with increased product offerings in the pipeline and a renewed focus on reimbursement and R&D.
The immunoassays are are indicated for the quantitative determination of IgM RF antibodies and the semi-quantitative determination of IgA RF antibodies.
Changes in physician behavior around monitoring patient response to therapeutic monoclonal antibodies is increasing demand for clinical testing of these drugs.
The "drug-tolerant assay" found that only very early TNF levels offered treatment response clues in RA patients treated with the TNF inhibitor adalimumab.
In a pair of recent studies, Crescendo put forth new clinical utility data and an age and adiposity-adjusted model for its Vectra DA rheumatoid arthritis test.
The company believes it can provide tests to predict patients' responsiveness to specific drugs akin to the molecular diagnostics that have now swelled the oncology space.