Adcendo Announces Series A Financing Extension to EUR 82M

Credit: © Adcendo ApS | Michael Pehl, MSc CEO

On the 4 April 2023, Adcendo announced the extension of its Series A financing to ensure broad development of its first-in-class ADC pipeline. The financing was led by Pontifax Venture Capital with participation by existing investors Novo Holdings and Ysios Capital which together raised an additional EUR 31M taking its total funds to EUR 82M.

The funding from the strong and committed syndicate of shareholders with a proven track record of supporting successful next generation companies will enable Adcendo to advance towards initiation of clinical development for lead asset uPARAP ADC in Sarcoma and development of its 2nd ADC pipeline asset with Development Candidate Nomination (DCN) planned in H1 2024.

uPARAP is a novel cancer target overexpressed on the cell surface of sarcoma and other esenchymal cancers. The intriguing expression profile and internalizing properties of uPARAP make it a highly attractive ADC target. uPARAP ADC has shown potential to be effective across multiple sarcoma subtypes, an indication with a very high unmet medical need.

Adcendo ApS, is a spin-out company from the University of Copenhagen and Rigshospitalet and previously part of the BioInnovation Institute’s Creation House Program, focused on developing novel antibody-drug conjugates (ADCs) for treatment of underserved cancers.

Read the recent article in Endpoints by Tyle Patchen, News Reporter.