Adcendo, a clinical-stage biotechnology company developing antibody-drug conjugates (ADCs) for cancer treatment, has raised $75m in a Series C funding round.
The financing will support Adcendo’s ongoing advancement of its first-in-class and best-in-class ADC pipeline targeting cancers of high unmet medical need, including further clinical development of three main programmes.
Jeito Capital led the round, joined by new investors Vida Ventures, BPI France, and EIFO (Export and Investment Fund of Denmark).
Previous investors included Orbimed, RA Capital Management, TCGX, TPG, and Ysios Capital.
Funding will enable progress on the ADCE-T02 (tissue factor antibody-drug conjugate) Phase I Tiffany-01 cohort expansion in a range of solid tumours.
It will also support the ADCE-D01 (urokinase plasminogen activator receptor-associated protein antibody-drug conjugate) ADCElerate1 dose escalation and expansion studies in soft tissue sarcoma and other mesenchymal cancers.
Additionally, it will support dose escalation for ADCE-B05, an ADC for squamous cell carcinoma, which is currently in pre-clinical evaluation.
Adcendo CEO Michael Pehl said: “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.”
Jeito Capital general partner and chief commercial officer Ksenija Pavletic said: “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 its mission of delivering next-generation cancer therapies to patients who need them most.”
Following the financing round, Adcendo will appoint Ksenija Pavletic and Rajul Jain of Vida Ventures to its board of directors.
In November 2024, Adcendo became the latest biotech to secure funding in the ADC space, having raised $135m to advance its portfolio of first-in-class ADCs into clinical development.
