Crescendo raises £17.5m series A as Astellas ventures in

Crescendo Biologics of the UK has raised £17.5m ($28m) in a series A financing led by Imperial Innovations and including new investor Astellas Venture Management (AVM). The UK biotech says the cash will fund its lead program, which is in topical dermatology, through to clinical proof of concept. Founding seed investor Sofinnova Partners also contributed significantly to the round.