Adcendo ApS Announces Extension of Series A Financing to 82M EUR to Ensure Broad Development of its First-in-class ADC Pipeline
- Series A Financing extension led by Pontifax Venture Capital and existing investors Novo Holdings and Ysios Capital, raising an additional 31M EUR
- Funds will be used to ensure broad pan-sarcoma development of lead ADC asset uPARAP and to further advance second ADC pipeline asset
- Ohad Hammer, partner at Pontifax Venture Capital, joins Board of Directors
Copenhagen, Denmark, April 4th, 2023 – Adcendo ApS (“Adcendo”), a biotech company focused on the development of breakthrough antibody-drug conjugates (ADCs) for the treatment of cancers with a high unmet medical need, today announces the successful completion of a Series A extension financing, raising a further 31 million EUR, following the 51 million EUR Series A financing in April 2021. The financing was led by Pontifax Venture Capital, a leading healthcare-focused venture capital firm and existing investors Novo Holdings and Ysios Capital. Current investors RA Capital Management, HealthCap and Gilde Healthcare participated as well. As part of the investment, Ohad Hammer, partner at Pontifax Venture Capital, will join the Adcendo Board of Directors.