Adcendo ApS announced the successful close of an oversubscribed $75 million Series C financing round to advance its pipeline of antibody-drug conjugate (ADC) therapies targeting cancers with high unmet medical need.
The round was led by Jeito Capital, with participation from new investors Vida Ventures, Bpifrance, and EIFO, alongside continued backing from existing investors including RA Capital Management, TPG, OrbiMed, Venrock, Novo Holdings, KKR-backed Dawn Biopharma, and others.
Proceeds from the financing will support the advancement of three key ADC programs through upcoming clinical milestones. These include ADCE-T02, a Tissue Factor-targeting ADC currently in a Phase I expansion study across multiple tumor types; ADCE-D01, targeting uPARAP and being evaluated in soft tissue sarcoma and related cancers; and ADCE-B05, an undisclosed target ADC in early-stage development for squamous cell carcinomas.
Adcendo, headquartered in Copenhagen with operations in Boston, is focused on developing first- and best-in-class ADC therapies by combining novel targets with optimized linker-payload technologies and a data-driven development strategy.
The company also announced that Ksenija Pavletic of Jeito Capital and Rajul Jain of Vida Ventures will join its Board of Directors as part of the financing.
The oversubscribed round reflects strong investor confidence in Adcendo’s clinical progress and its differentiated approach to next-generation cancer therapeutics.
KEY QUOTES:
“This successful financing round, led by a distinguished group of life science investors, empowers us to continue advancing our pipeline of breakthrough ADCs for the treatment of underserved cancers. We are thrilled to see continued momentum of our first and best-in-class ADCs in clinic, and with the backing of this fundraising we will continue to progress ADCE-T02, ADCE-D01 and ADCE-B05 through upcoming data readouts.”
Michael Pehl, Chief Executive Officer, Adcendo
“Adcendo stands out in the ADC field as having a noteworthy combination of bold innovation and strong clinical development strategy and execution. With a seasoned team of drug developers and biopharma leaders advancing their differentiated pipeline, we are excited to see the Company’s progress toward their mission of delivering next-generation cancer therapies to patients who need them most.”
Ksenija Pavletic, General Partner And Chief Commercial Officer, Jeito Capital
