Adcendo, a biotech company focused on the development of first-in-class ADCs for the treatment of cancers with a high unmet medical need, today announced the successful closing of an oversubscribed $135 million Series B financing round. Proceeds from the fundraise will be used to advance, broaden, and accelerate the development of the Company’s first-in-class ADC pipeline, including the ADCE-T02 (Tissue Factor ADC), ADCE-D01 (uPARAP ADC), ADCE-B05 and A0401 programs.
The financing round was led by TCGX, with participation from new investors TPG Life Sciences Innovations, Orbimed Advisors, Venrock Healthcare Capital Partners, Surveyor Capital (a Citadel company), and Logos Capital, as well as 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.
“We are thrilled with a financing round of this magnitude and the support shown from such a strong group of investors as we continue to advance our pipeline of breakthrough ADCs for the treatment of underserved cancers,” said Michael Pehl, Chief Executive Officer of Adcendo. “The excitement in the ADC space paired with our team’s experience and passion for the underlying science motivates us to continue pushing our programs forward into the clinic. We look forward to achieving key milestones across our pipeline with the support of this fundraising.”
About Adcendo ApS
Adcendo ApS is a clinical-stage biotechnology company developing breakthrough antibody-drug conjugates, or ADCs, for the treatment of underserved cancers. In 2024, the company completed a Series B financing round through an international syndicate of leading life science and biotech investors, raising $135 million to advance, broaden, and accelerate the development of its first-in-class ADC pipeline. For further information, please visit www.adcendo.com or follow us on LinkedIn.
About Gilde Healthcare
Gilde Healthcare is a transatlantic specialist investment firm managing over €2.6 billion across two fund strategies: Venture&Growth and Private Equity. The Venture&Growth fund of Gilde Healthcare invests in fast growing companies active in therapeutics, medtech and digital health, based in Europe and North America. The Private Equity fund of Gilde Healthcare participates in profitable lower mid-market healthcare companies based in North-Western Europe. For more information, visit the company’s website at www.gildehealthcare.com.