Adcendo ApS, a Copenhagen, Denmark-based biotech company focused on the development of antibody-drug conjugates (ADCs) for the treatment of cancers, raised €31M in Series A extension funding.
The round, which brought the total amount to $82M, was led by Pontifax Venture Capital, and existing investors Novo Holdings and Ysios Capital. Current investors RA Capital Management, HealthCap and Gilde Healthcare participated as well. As part of the investment, Ohad Hammer, partner at Pontifax Venture Capital, will join the Adcendo Board of Directors.
The company intends to use the funds to initiate a broad clinical development program for uPARAP ADC in Sarcoma and is also planning to advance the development of its 2nd ADC pipeline asset with Development Candidate Nomination (DCN) planned in H1 2024.
Led by CEO Michael Pehl, Adcendo is developing antibody-drug conjugates for the treatment of cancer, which are a class of biopharmaceutical drugs composed of a targeted antibody linked to a biologically active drug or cytotoxic compound. ADCs combine the sensitive targeting capabilities of antibodies, with the potent effects of cytotoxic drug conjugates, enabling sensitive discrimination between healthy and cancerous tissue.
uPARAP is a novel cancer target overexpressed on the cell surface of sarcoma and other mesenchymal cancers. uPARAP ADC has shown potential to be effective across multiple sarcoma subtypes, an indication with a very high unmet medical need.
FinSMEs
04/04/2023