#Denmark #Copenhagen #Adcendo #ADC #Jeito Capital

Adcendo Secures $75 Million in Series C Financing

In a decisive move to enhance its pioneering work in cancer treatment, Adcendo ApS, a biopharmaceutical company based in Copenhagen, recently announced the completion of a $75 million Series C financing round. This funding, oversubscribed and led by Jeito Capital, aims to propel Adcendo’s first-in-class antibody-drug conjugates (ADCs) through critical clinical milestones, enhancing its position in the cancer treatment sector.

Overview of Adcendo’s Mission

Adcendo is committed to developing advanced ADCs, which integrate monoclonal antibodies with potent drug agents to target and destroy cancer cells specifically, leaving healthy cells unharmed. This approach addresses cancers with significant unmet medical needs. With operations extending from Denmark to Boston, the company is focused on delivering cutting-edge therapies that offer patients better outcomes and quality of life.

Funding Details and Use of Proceeds

The newly raised funds will facilitate the advancement of three crucial ADC programs:

1. ADCE-T02 (Tissue Factor ADC) - This program is currently in the Phase I Tiffany-01 cohort expansion phase and targets a range of tumors with high medical unmet need.
2. ADCE-D01 (uPARAP) - This ADC is involved in the ADCElerate1 dose escalation and expansion study, particularly focusing on soft tissue sarcoma and other cancers rooted in mesenchymal origins.
3. ADCE-B05 - While the specific target remains undisclosed, this ADC is being evaluated for effectiveness in squamous cell carcinomas and involves a crucial dose escalation study.

The successful closure of this funding round signals robust confidence from investors in Adcendo’s innovative therapeutic strategies. Notable financial participants included Vida Ventures, BPI France, and EIFO, alongside existing investors such as TCGX, RA Capital Management, TPG, and others, showcasing a strong coalition of support for Adcendo’s vision.

Comments from Leadership

Reflecting on the funding success, Michael Pehl, CEO of Adcendo, 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.” He emphasized the importance of this funding in pushing their ADCs through upcoming data readouts, thereby improving clinical outcomes.

Ksenija Pavletic, General Partner and Chief Commercial Officer at Jeito Capital, added, “Adcendo stands out in the ADC field as having a noteworthy combination of bold innovation and strong clinical development strategy and execution.” This comment underscores the shared vision between Adcendo and its investors regarding advancing next-generation cancer therapies.

Future Directions and Board Expansion

Continuing its momentum, Adcendo will further enhance its governance structure by adding Ksenija Pavletic from Jeito Capital and Rajul Jain from Vida Ventures to its Board of Directors. Their expertise is expected to bolster Adcendo’s trajectory toward technological advancements in cancer therapeutics.

About Adcendo

Adcendo is advancing three leading ADCs:

• - ADCE-T02 targets Tissue Factor, prevalent in numerous solid tumors like head and neck squamous cell carcinoma and pancreatic ductal adenocarcinoma.
• - ADCE-D01 aims at uPARAP, a target sought after in high unmet need cancers, especially soft tissue sarcoma.
• - ADCE-B05, focusing on squamous cell tumors, is under vigorous pre-clinical evaluations.

The integration of experienced biopharma executives at Adcendo ensures that they are well-positioned to navigate the complex pathway from innovation to clinical application, providing life-changing therapies for cancer patients.

Closing Thoughts

As Adcendo moves forward, it remains dedicated to addressing critical gaps in cancer treatment through its innovative ADC pipeline. The substantial financial backing from key industry players reflects optimism in their strategic direction and technological innovations, marking Adcendo as a notable player in the landscape of biopharmaceuticals.

For further details, visit Adcendo's official website.