Clive Dix Appointed as Chairman of Crescendo Biologics

CAMBRIDGE, England, January 8 - Crescendo Biologics ("Crescendo") today announces the
appointment of Clive Dix as Chairman. Dr Dix will work closely with Mike
Romanos, Chief Scientific Officer of Crescendo, to drive the development of
the Company and its proprietary antibody fragment technologies following the
recent GBP4.5 million seed round fundraising.

Dr Dix has an exceptional track record established over more
than 20 years in the pharmaceutical and biotechnology business. He is the
Chairman of the BioIndustry Association, the trade association for innovative
enterprises in the UK's bioscience sector, and was previously co-founder and
Chief Executive of PowderMed Ltd, a vaccines development company acquired by
Pfizer in November 2006. Prior to running PowderMed, Dr Dix was Senior Vice
President, Research and Development and a Board member of PowderJect
Pharmaceuticals plc until its acquisition by Chiron Vaccines in 2003. Dr Dix
began his career in industry at Ciba-Geigy and then GlaxoWellcome, where he
left as UK Research Director in 2001. Dr Dix is non-Executive Chairman of
Modern Biosciences plc and Auralis Ltd.

Dr Dix has an in-depth understanding of all facets of the drug
discovery and development process, having led projects and portfolios from
conception through to Phase III in a range of therapeutic areas including
cardiovascular, respiratory, inflammatory and infectious diseases.

Clive Dix said, "The antibody space remains enormously
attractive for pharmaceutical and biotechnology companies. Current products
have brought real benefits to patients and command huge market value, and
there is a great demand for innovative antibody technologies to deliver the
high value products of the future. With substantial seed funding in place,
Crescendo has the opportunity to build on its world class, proprietary
technology platforms and grow to become a leader in next-generation antibody
therapeutics."

Handing over the Chairman's reins, lead investor Graziano
Seghezzi said, "Independent leadership is what we strive for at Sofinnova
when we build our companies' board of directors. I am delighted to have
someone of Clive's calibre join the Company and Board."

Mike Romanos said, "Clive's experience will be invaluable as
we grow our business through technology development, in-house projects and
future partnership programmes. I look forward to working together."

About Crescendo Biologics Ltd

Crescendo Biologics will apply highly innovative antibody
fragment technologies to the development of new targeted therapeutics. The
Crescendo transgenic mouse platform under development has the potential to
rapidly and predictably generate high-affinity human heavy chain antibodies
that readily yield VH fragments that have no requirement for humanisation.
This is combined with a powerful in vitro ribosome display technology which
offers significant advantages over existing approaches in antibody
optimisation. VH fragments provide great flexibility as a starting point for
the development of new targeted therapeutics combining the specificity and
binding affinity of antibodies with certain desirable characteristics of
small molecules.

Crescendo's technologies were invented by scientists at the
Babraham Institute, Cambridge (UK). The Company has raised GBP4.5 million in
seed funding from leading life sciences investors, Sofinnova Partners with
Aitua, Avlar BioVentures and the Rainbow Seed Fund also participating.
www.crescendobiologics.com

    Contacts

    Mike Romanos / Amanda Bettison
    Crescendo Biologics
    Tel: +44(0)1223-497140
    Email: mromanos / abettison@crescendobiologics.com

    Chris Gardner
    Citigate Dewe Rogerson
    Tel: +44(0)207-638-9571
    Email: chris.gardner@citigatedr.co.uk

Contacts: Mike Romanos / Amanda Bettison, Crescendo Biologics, Tel: +44(0)1223-497140, Email: mromanos / abettison at crescendobiologics.com ; Chris Gardner, Citigate Dewe Rogerson, Tel: +44(0)207-638-9571, Email: chris.gardner at citigatedr.co.uk