BRIEF—Adcendo raises 51 million euros to advance ADCs

Danish biotech Adcendo, which is developing antibody-drug conjugates (ADCs) for the treatment of cancers, today announced the successful closing of a 51 million euros ($ 62 million) Series A financing.

The investment was led by Novo Seeds, the early-stage investment and company creation team of Novo Holdings, and Ysios Capital, along with RA Capital Management, HealthCap and Gilde Healthcare. The company was initially incubated and funded at the BioInnovation Institute (BII).

The new financing, which is the largest Series A financing for a Danish biotech company, will be used to establish a pipeline of ADCs directed at novel cancer targets and to bring the lead program targeting the novel cancer target uPARAP/Endo180 to proof of concept in patients.

In addition to the uPARAP program, Adcendo will build a pipeline of additional novel cancer targets ideally suited to ADC approaches.