Danforth Advisors Reaches 300 Client Milestone, Accelerates Growth in New Markets

Cambridge, Massachusetts, UNITED STATES

SOMERVILLE, Mass., July 10, 2018 (GLOBE NEWSWIRE) -- Danforth Advisors, LLC, today announced the milestone signing of its 300th client – Carisma Therapeutics Inc. – marking seven years of growth as the leading firm specializing in accounting, finance support and strategy for life science and healthcare companies.

“As an early-stage company we value operational efficiency, and Danforth provides access to the finance and accounting resources we need in a timely and flexible way,” said Steven Kelly, CEO of Carisma – a Philadelphia-based biotechnology company which recently closed $53 million in Series A funding. “We congratulate the Danforth team on reaching this milestone and look forward to a continued partnership.”

Founded in 2011, Danforth has become the largest consultancy of its kind – operating as a flexible financial backbone for life science companies, from controllers to CFOs, with deep roots in the industry and vast knowledge of its workings. The firm’s achievements include:

  • Team growth to over 55 consultants
  • Entry into new market sectors, including digital health and healthcare services
  • Regional expansion to life science clusters outside of Massachusetts, such as metropolitan New York, Philadelphia and the western U.S.
  • Cross-border support for a growing number of overseas companies initiating U.S. operations, including clients in France, Germany, Denmark, The Netherlands, Belgium, the UK and Israel
  • Participation in more than 15 life science IPOs/filings, including one of the largest in 2017 (NASDAQ: APLS at $150 million)
  • $615 million raised for clients led by Danforth CFOs in 2017

“We are proud of the brand that we have built and the role we have been able to fill for 300 companies in seven years – from start-ups in stealth mode to newly-public entities,” said Gregg Beloff, Co-founder and Managing Director of Danforth. “Though finance is our domain, we are passionate about the science and the opportunity to support companies who are doing such meaningful work. We’re excited to extend our reach even further into new markets that are driving innovation but need the life science- specific accounting and finance strategy support we provide.”

About Danforth Advisors
Danforth specializes in accounting, finance support and strategy for life science and healthcare companies. Our services range from execution of day-to-day finance and accounting functions to strategic CFO advisory, capital raising, financial and operational planning and analysis, and transactional support and execution for public offerings, mergers and acquisitions. Clients at all phases of the corporate life cycle can take advantage of these services on a part-time, interim or project basis, scaling as needed. Danforth was founded in 2011 and has served over 300 life science and digital health companies with our unique, modular approach. Additional information is available at www.danforthadvisors.com.

Felicia Krupps