Gilde Healthcare portfolio company Adcendo Aps (‘Adcendo’), 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 EUR 31M, following the
EUR 51M Series A financing in April 2021.

The financing was led by Pontifax Venture Capital, and was joined by existing investors Novo Holdings, Ysios Capital, Gilde Healthcare, HealthCap and RA Capital Management. Adcendo intends to use the proceeds from the financing to initiate a broad clinical development program for uPARAP ADC in Sarcoma and is also planning to advance the development of its 2nd ADC pipeline asset with Development Candidate Nomination (DCN) planned in H1 2024.

uPARAP is a novel cancer target overexpressed on the cell surface of sarcoma and other esenchymal cancers. The intriguing expression profile and internalizing properties of uPARAP make it a highly attractive ADC target. uPARAP ADC has shown potential to be effective across multiple sarcoma subtypes, an indication with a very high unmet medical need.

About Adcendo ApS
Adcendo ApS is developing breakthrough antibody-drug conjugates (ADCs) for the treatment of underserved cancers. In 2023, the company completed a Series A extension financing round, taking its funds to EUR 82M to advance into clinical development. Investors include Novo Holdings, Ysios Capital, Pontifax Venture Capital, RA Capital Management, HealthCap and Gilde Healthcare. For further information, please visit www.adcendo.com

About Gilde Healthcare
Gilde Healthcare is a specialized healthcare investor managing over EUR 2.5B across two fund strategies: venture & growth capital and private equity. The Venture & Growth fund of Gilde Healthcare invests in fast growing companies active in therapeutics, digital health and medtech. The venture & growth companies are 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.