Date: Jun 03, 2013 Source: Wall Street Journal (
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SAN FRANCISCO--(BUSINESS WIRE)--June 03, 2013--
CytomX Therapeutics, Inc., a biotechnology company developing a new generation of targeted antibody therapeutics, today announced that it has been selected as a 2013 Red Herring Top 100 North America Tech Startup. Red Herring Top 100 awards recognize the leading private companies from the Americas, celebrating these startups' innovations and technologies across their respective industries. CytomX was selected after presenting along with hundreds of finalists at the Red Herring Top 100 North America event in Monterey, Calif.
"We are honored to be named a Red Herring Top 100 North America Company and recognized along with leading startups in the technology and life sciences field," said Sean McCarthy, D.Phil, chief executive officer of CytomX. "We are pleased to share this exciting award with our dedicated employees, advisors and investors who share our vision of developing safer, more effective therapies for patients. The recognition by Red Herring reflects the disruptive potential of our technology platform and the crucial proof of concept data we have generated over the past two years. We are now turning our attention to formation of strategic partnerships that will further accelerate the company's development."
Red Herring Top 100 North America enlists outstanding entrepreneurs and promising companies. It selects 100 award winners, among the 3,000 tech startups financed each year in the United States and Canada. Since 1996, Red Herring has been keeping tabs on the up and comers. Red Herring editors were among the first to recognize that companies such as Facebook, Twitter, Google, Yahoo, Skype, Salesforce.com, YouTube, Marin Software, Palo Alto Networks, and eBay would change the way we live and work.
"In 2013, selecting the Top 100 achievers was by no means a small feat," said Alex Vieux, publisher and chief executive officer of Red Herring. "In fact, we had the toughest time in years because so many entrepreneurs have crossed significant milestones so early. But after much thought, rigorous contemplation and discussion, we narrowed our list down from hundreds of candidates from across North America to the Top 100 Winners. We believe CytomX Therapeutics embodies the vision, drive and innovation that define a successful entrepreneurial venture. CytomX should be proud of its accomplishment, as the competition was very strong."
Red Herring's editorial staff evaluated the companies on both quantitative and qualitative criteria, such as financial performance, technology innovation and intellectual property, management quality, business model, customer footprint, and market penetration. This assessment of potential is complemented by a review of the track record and standing of startups relative to their sector peers, allowing Red Herring to see past the "buzz" and make the list a valuable instrument of discovery and advocacy for the most promising new business models in North America.
About CytomX
CytomX Therapeutics is a biotechnology company developing a new generation of highly targeted antibody therapeutics with the potential to transform lives with safer, more effective therapies. CytomX's Probody(TM) Platform offers a highly differentiated approach to discovering and developing empowered antibodies and is enabling the development of a diversified pipeline addressing previously undruggable targets in major unmet medical needs including cancer and inflammation. Probodies are masked antibodies that remain inert in healthy tissue but are activated specifically in the disease microenvironment. This improved selectivity allows CytomX to open a therapeutic window for high potential, but previously inaccessible targets, and to expand the therapeutic index of existing, validated targets, thereby redefining the landscape for therapeutic antibodies. CytomX is led by a seasoned and proven management team and is financed by leading life science investors including Third Rock Ventures, Canaan Partners and the Roche Venture Fund. For more information, please visit www.cytomx.com.
CONTACT: Pure Communications, Inc.
Kristie Wallis, 336-774-8666
Kristie@purecommunicationsinc.com
SOURCE: CytomX Therapeutics, Inc.
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