Adcendo ApS Secures $75 Million Funding to Propel ADC Pipeline for Cancer Treatment
Adcendo ApS Secures $75 Million Funding to Propel ADC Pipeline for Cancer Treatment
Adcendo ApS, a biotech firm specializing in the development of innovative antibody-drug conjugates (ADCs) aimed at treating cancers with significant unmet medical needs, has announced the successful closure of an oversubscribed Series C financing round, totaling $75 million. This financing was led by Jeito Capital and received contributions from new investors including Vida Ventures, BPI France, and EIFO, as well as participation from all existing investors.
The raised funds will empower Adcendo to advance its pipeline of first-and best-in-class ADC programs through a series of critical clinical milestones. Key projects in development include the following:
1. ADCE-T02 (Tissue Factor ADC) - This program focuses on a Phase I Tiffany-01 Cohort expansion study, targeting multiple high unmet need tumor indications.
2. ADCE-D01 (uPARAP) - This aims to enhance treatment options through the ADCElerate1 dose escalation and expansion study, particularly in soft tissue sarcomas and other cancers of mesenchymal origin.
3. ADCE-B05 - Although details are still undisclosed regarding the specific target, this ADC will undergo a dose escalation study in squamous cell carcinomas.
Michael Pehl, the CEO of Adcendo, expressed enthusiasm regarding the financing. He stated, “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.”
In anticipation of significant progress, the company aims to push forward with ADCE-T02, ADCE-D01, and ADCE-B05 through crucial data readouts, addressing healthcare gaps in cancer treatment.
Ksenija Pavletic, General Partner and Chief Commercial Officer at Jeito Capital, highlighted Adcendo's unique position in the ADC landscape, showcasing it as a company embodying a potent mix of bold innovation and a robust clinical development strategy. She further noted the value of Adcendo’s experienced team, dedicated to developing next-generation therapies for cancer patients in dire need.
The Path Ahead
As part of a strategic plan associated with this financing, both Ksenija Pavletic from Jeito Capital and Rajul Jain from Vida Ventures will join Adcendo's Board of Directors, further strengthening the leadership team’s expertise.
Adcendo, headquartered in Copenhagen, Denmark, with operational extensions in Boston, Massachusetts, is developing an array of ADCs that are poised to provide innovative solutions to high unmet medical needs in cancer treatment. The company’s pipeline features drugs targeting specific biological markers that are often overexpressed in various solid tumors, including:
- - ADCE-T02 targeting Tissue Factor, prevalent in head and neck squamous cell carcinoma, pancreatic ductal adenocarcinoma, colorectal cancer, and non-small cell lung cancer.
- - ADCE-D01 targeting uPARAP, also found in high unmet need cancers such as soft tissue sarcoma.
- - ADCE-B05, which remains undisclosed but is in preclinical evaluation for squamous cell solid tumors.
The acquisition of this funding is expected to bolster Adcendo's efforts significantly, accelerating the development of crucial therapies that could change the lives of many cancer patients globally. To learn more about Adcendo or stay updated on their progress, you can visit Adcendo's website or follow their updates on LinkedIn.
Topics Health）
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