Adcendo, a Copenhagen, Denmark-based biotech company focused on the development of breakthrough antibody-drug conjugates (ADCs) for the treatment of cancers, raised additional €16M in additional Series A extension funding.
The round, which extended the total amount of Series A to €98M, was led by Dawn Biopharma with participation from existing investors Novo Holdings, Ysios Capital, RA Capital Management, HealthCap, Gilde Healthcare and Pontifax Venture Capital. As part of the investment, Iyona Rajkomar, Managing Partner at Dawn Biopharma, will join the Adcendo Board of Directors.
The company intends to use the funds to further strengthen its pipeline of first in class ADC assets, including lead asset targeting uPARAP.
Led by CEO Michael Pehl, Adcendo is developing antibody-drug conjugates (ADCs) for the treatment of underserved cancers. ADCs are a class of highly potent biopharmaceutical drug composed of a targeting antibody linked to a biologically active drug or cytotoxic compound. ADCs combine the unique and very sensitive targeting capabilities of antibodies, with the potent effects of the conjugated cytotoxic drugs, allowing sensitive discrimination between healthy and cancer tissues.
Commenting on the news, Michael Peel said: “This financing underscores the confidence that our investors have in Adcendo’s capabilities and potential to develop highly innovative ADC cancer therapies to provide treatment options for cancer patients with high unmet medical needs. We are extremely pleased to welcome Iyona to the Adcendo Board of Directors, as she brings a wealth of experience in supporting and advancing early and clinical stage biotech companies.”
FinSMEs
29/05/2024