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|CytomX Therapeutics Named a Finalist for the 2013 Red Herring Top 100 North America Award|
SAN FRANCISCO – May 7, 2013 – CytomX Therapeutics, a biotechnology company developing a new generation of highly targeted antibody therapeutics, announced today it has been selected as a finalist for Red Herring’s Top 100 North America award, a prestigious list honoring the year’s most promising private technology ventures from the North American business region.
“It is an honor to be recognized by Red Herring for CytomX’s growth, recent pipeline progress and our innovative technology platform, which has the potential to revolutionize the antibody therapeutics field and address a number of major unmet medical needs,” said Sean McCarthy, D.Phil, chief executive officer of CytomX. “Being selected as a finalist for such a prestigious award is a testament to the significant advancements CytomX has made with our Probody™ Platform and Probody™ Drug Conjugate programs as we work toward developing safer, more effective therapies for patients.”
Red Herring has been selecting the most exciting and promising start-ups and “scale ups” since 1995. Finalists are still evaluated individually from a large pool of hundreds of candidates based across North America. Twenty major criteria underlie the scoring and process. They include, among others: the candidate company’s addressable market size, its IP and patents, its financing, the proof of concept, trailing revenues and management’s expertise. Each company goes through an individual interview after filling out a thorough submission, complemented by due diligence. The list of finalists often includes the best performing and prominent companies of that year.
This unique assessment of potential is complemented by a review of the company’s actual track record and standing, which allows Red Herring to see past the “buzz” and make the list a valuable instrument for discovering and advocating the greatest business opportunities in the industry.
2013 will be remembered as a special vintage. “The finalists list confirms the excellent choices made by entrepreneurs and VCs and the start-ups’ solid roots in corporate America, embracing their innovations. By all metrics, it emphasizes the United States’ entrepreneurial excellence,” said Alex Vieux, publisher and chief executive officer of Red Herring.
Finalist selections for the 2013 edition of the Red Herring 100 North America award are based upon technological innovation, management strength, market size, investor record, customer acquisition and financial health. During the several months leading up to the announcement, hundreds of companies in the fields of security, Web 2.0, software, hardware, life sciences, cloud, mobile and others completed their submissions to qualify for the award.
Finalists are asked to present their winning strategies at the Red Herring North America Forum in Monterey, Calif., May 21 to 23, 2013. The Top 100 winners will be announced at a special awards ceremony the evening of May 23 at the event.
Please follow the Red Herring conference on Twitter @digitalherring and use #RedHerring100.