TLDR:
- Adcendo, a biotech company in Denmark, raised an additional €16M in Series A extension funding, bringing the total to €98M.
- The funding round was led by Dawn Biopharma and included participation from existing investors.
Adcendo, a Copenhagen-based biotech company focused on developing antibody-drug conjugates for cancer treatment, raised €16M in additional funding to extend their Series A round to €98M. The round was led by Dawn Biopharma, with participation from existing investors such as Novo Holdings, Ysios Capital, RA Capital Management, HealthCap, Gilde Healthcare, and Pontifax Venture Capital. The company plans to use the funds to strengthen its pipeline of ADC assets, including a lead asset targeting uPARAP.
ADCs are highly potent biopharmaceutical drugs that combine the targeting capabilities of antibodies with the effects of cytotoxic drugs, allowing for precise targeting of cancer tissues. Adcendo’s CEO, Michael Pehl, expressed gratitude for the investors’ confidence in the company’s potential to develop innovative cancer therapies and welcomed Iyona Rajkomar from Dawn Biopharma to the Board of Directors for her expertise in supporting early-stage biotech companies.
The funding round signifies a vote of confidence in Adcendo’s capabilities and potential to address unmet medical needs in cancer treatment. With the additional funding, the company is poised to advance its research and development efforts in the field of antibody-drug conjugates.
