Adcendo ApS Completes Oversubscribed $135 Million Series B Financing to Advance First-in-class ADC Pipeline USA - English USA - English
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~ Adcendo, a biotech company specializing in the development of first-in-class ADCs for the treatment of cancers with high unmet medical needs, has recently announced the successful closing of a $135 million Series B financing round. The oversubscribed round was led by TCGX and saw participation from new investors TPG Life Sciences Innovations, Orbimed Advisors, Venrock Healthcare Capital Partners, Surveyor Capital (a Citadel company), and Logos Capital. All existing investors, including RA Capital Management, Novo Holdings, Pontifax Venture Capital, Dawn Biopharma (a platform controlled by KKR), HealthCap, Gilde Healthcare and Ysios Capital also participated in the round.

The funds raised will be used to advance, broaden and accelerate the development of Adcendo's first-in-class ADC pipeline. This includes programs such as ADCE-T02 (Tissue Factor ADC), ADCE-D01 (uPARAP ADC), ADCE-B05 and A0401. These programs have shown promising potential in treating underserved cancers.

Michael Pehl, Chief Executive Officer of Adcendo expressed his excitement about the successful fundraising and the support shown by a strong group of investors. He stated that this funding will enable them to continue pushing their programs forward into clinical trials. Pehl also highlighted the team's experience and passion for the underlying science as key motivators in their pursuit to develop breakthrough ADCs.

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Cariad Chester, Managing Partner of TCGX also commented on the potential impact of Adcendo's pipeline on hard-to-treat cancers. She expressed confidence in Adcendo's ability to lead the next era of ADC drug development with their innovative approaches. Chester believes that these programs have the potential to significantly change the treatment landscape for multiple cancers and provide better therapies for patients in need.

As part of this financing round, Adcendo's Board of Directors will consist of John Haurum (Chairman), Cariad Chester (Managing Partner of TCGX), Nandita Shangari (Managing Director at RA Capital), Jeroen Bakker (Partner at Novo Holdings), Carolyn Ng (Business Unit Partner at TPG Life Sciences Innovations), Ohad Hammer (Partner at Pontifax Venture Capital), Iyona Rajkomar (Managing Partner of DawnBio, a platform controlled by KKR) and Michael Pehl (CEO of Adcendo). Roy Amariglio, Principal at Orbimed Advisors, will also serve as a board observer.

With this significant funding and a strong team of investors and board members, Adcendo is well-positioned to achieve key milestones in their pipeline and make a meaningful impact in the field of ADCs. The company remains committed to advancing their programs and bringing much-needed treatments to patients with difficult-to-treat cancers.
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