SOUTH SAN FRANCISCO, Calif., Nov. 13, 2013 (GLOBE NEWSWIRE) -- Crescendo Bioscience, a molecular diagnostics company dedicated to developing quantitative blood tests and disease information services for rheumatoid arthritis (RA) and other autoimmune diseases, today announced it ranked 27th on Deloitte's Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Crescendo Bioscience grew 8,753.0 percent during this period. The company's Vectra® DA, the first and only multi-biomarker blood test to assess RA disease activity, was introduced in late 2010 and recently received Medicare coverage.
"We are honored to be ranked so highly on Deloitte's prestigious Technology Fast 500," said William A. Hagstrom, president and chief executive officer. "From the beginning, our dedicated and experienced team has remained focused on providing innovative diagnostics tools to rheumatologists to expand clinical insight for their patients. Our initial product, Vectra DA, was launched in late 2010 and today, has reached a milestone threshold of 100,000 tests completed with 25 percent of rheumatologists routinely ordering the test. Vectra DA is rapidly becoming an important, objective and precise way to quantify patients' inflammatory disease activity and identify changes in response to a wide range of RA treatments and interventions."
"The 2013 Deloitte Technology Fast 500 companies are exemplary cases of those spurring growth in a tough market through innovation," said Eric Openshaw, vice chairman, Deloitte LLP and U.S. technology, media and telecommunications leader. "This year's list is a who's who of companies behind the most exciting and innovative products and services in the technology space. We congratulate the Fast 500 companies and look forward to what they do next."
"The fastest growing companies in the US are drivers of constant innovation and operate with the agility to stay ahead of a quickly evolving marketplace, and software, biotech/pharma and internet companies continue to be at the forefront," added James Atwell, national managing partner of the Emerging Growth Company practice, Deloitte Services LP. "The companies excelling in these sectors have a startup mentality that allows them to be nimble and adapt quickly, which is why they consistently lead the list of fast-growing companies each year."
Overall, 2013 Technology Fast 500™ companies achieved revenue growth ranging from 137 percent to 208,897 percent from 2008 to 2012, with an average growth of 2,600 percent.
About Deloitte's 2013 Technology Fast 500™
Technology Fast 500, conducted by Deloitte LLP, provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies – both public and private - in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2008 to 2012.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
About Crescendo Bioscience®, Inc.
Crescendo Bioscience, Inc., is a molecular diagnostics company dedicated to developing and commercializing quantitative blood tests for rheumatoid arthritis (RA) and other autoimmune diseases, located in South San Francisco, CA. Crescendo Bioscience develops quantitative, objective, blood tests to provide rheumatologists with deeper clinical insight to help enable more effective management of patients with autoimmune and inflammatory diseases. For more information, please visit the company's website at http://www.CrescendoBio.com.