BRIEF—Adcendo adds $34 million to series A haul

Denmark’s Adcendo has completed a series A extension financing, adding 31 million euros ($34 million), to the 51 million euros it raised in April 2021.

The antibody-drug conjugate (ADC) specialist is developing novel oncology treatments, targeting uPARAP, a collagen receptor which is overexpressed in sarcomas and other mesenchymal cancers.

The financing was led by healthcare investor Pontifax Venture Capital, with money also from existing investors Novo Holdings and Ysios Capital, among others.

The company will use the money to initiate a broad clinical development program and is also planning to advance the development of its second ADC pipeline asset.

Adcendo has signed a linker/payload license agreement with Duality Biologics.