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New York Clears Crescendo Bio to Offer RA Test

NEW YORK (GenomeWeb News) – Crescendo Bioscience today announced it has received clearance from New York to provide services to patients in the state. As a result, the company can now offer its rheumatoid arthritis test in New York.

The Wadsworth Center at the New York Department of Health, through its Clinical Laboratory Evaluation Program, issued a laboratory permit to the company. With today's approval, Crescendo Bio can now offer its test, called Vectra DA, in all 50 states in the US.

Vectra DA comprises 12 protein biomarkers that together measure RA activity. The test was launched in late 2010. William Hagstrom, president and CEO of Crescendo Bio, said that since its launch more than 20 percent of rheumatologists in the US have used Vectra DA to assess RA in more than 40,000 patients.

The South San Francisco, Calif.-based firm completed a $28 million Series D financing round in January. In 2011, it completed a $31 million Series C equity financing round. At the time, Myriad Genetics also made a $25 million debt investment into Crescendo Bio in return for a three-year option to buy the company.