France-based Adcytherix has completed a Series A funding round, raising €105m ($122m) earmarked for expediting the antibody-drug conjugate (ADC) pipeline with a focus on new payloads.
The funds will be used to progress the company's primary candidate, ADCX-020, into clinics.
Adcytherix has set a target to file for investigational new drug in the US and clinical trial applications in Canada, the UK and the European Union (EU) by the end of 2025.
Adcytherix founder and CEO Jack Elands stated: “Closing the largest ADC-focused Series A in Europe in 2025 validates our science, our vision and the exceptional work of our team since inception just 18 months ago.
“We are proud to have attracted a world-class syndicate of investors who share our ambition to develop breakthrough ADCs for patients resistant to the current classes of ADCs.”
The investment was spearheaded by Bpifrance as a component of Large Venture and InnoBio investment strategies.
Bpifrance’s Large Venture fund deputy director Laurent Higueret stated: “We are thrilled to lead this Series A round and join an outstanding syndicate of investors.
“With this sizeable financing, we believe Adcytherix is now uniquely positioned to establish itself as a major player in the field of ADCs by building its differentiation strategy around new payloads.”
Andera Partners, Angelini Ventures and Kurma Partners jointly led the round, with additional contributions from Citadel company Surveyor Capital and aMoon.
The company's founders and existing investors also took part in this financial round.
In conjunction with the financing, Adcytherix has welcomed new members to its supervisory committee.
Bpifrance’s Olivier Martinez and Laurent Higueret, Kurma Partners’ Peter Neubeck and Andera Partners’ Sofia Ioannidou have joined the committee.
Angelini Ventures’ Regina Hodits and aMoon’s Reut Shema are now set to serve as observers, alongside RA Capital Management’s Matthew Hammond and Pontifax’s Ran Nussbaum.
In 2024, Adcytherix announced its launch with seed funding of €30m ($32.2m) aimed at developing new ADCs for cancer treatment.
