Adcendo Completes $135 Million Series B Financing to Boost ADC Pipeline
Deal News | Nov 25, 2024 | Ysios Capital
Adcendo ApS, a Copenhagen-based biotech firm specializing in first-in-class ADCs (Antibody-Drug Conjugates) for cancer treatment, has successfully closed a $135 million Series B financing round. The round was led by TCGX and saw participation from notable investors including TPG Life Sciences Innovations, Orbimed Advisors, and Venrock Healthcare Capital Partners, as well as existing investors like Novo Holdings, Pontifax Venture Capital, and Ysios Capital. The funding will be allocated to advance Adcendo's pipeline of ADCs through clinical trials, aiming to provide innovative solutions for hard-to-treat cancers. The new financing also results in the appointment of a diverse and experienced board of directors, including representatives from leading investor firms. This development underscores the potential of ADCs in transforming cancer treatment paradigms and highlights Adcendo's position as a key player in this domain.
Sectors
- Biotechnology
- Healthcare
- Private Equity & Venture Capital
Geography
- Denmark – Adcendo is based in Copenhagen, Denmark, which is a central location for the biotech firm's operations.
- Global – The investor base includes global firms such as TPG, Orbimed Advisors, and others, indicating an international interest and reach.
Industry
- Biotechnology – Adcendo operates in the biotechnology sector, focusing on developing ADCs for cancer treatment.
- Healthcare – The funding and development activities are centered around advancing healthcare solutions for treating difficult cancers.
- Private Equity & Venture Capital – The article involves multiple venture capital and private equity investors partaking in Adcendo's financing round.
Financials
- $135 Million – The total amount raised in Adcendo's Series B financing round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Adcendo ApS | Target Company | Company | A Copenhagen-based biotech firm focused on first-in-class ADCs for cancer treatment with high unmet needs. |
| TCGX | Lead Investor in Series B | Company | Investment firm leading the Series B financing round. |
| TPG Life Sciences Innovations | Investor | Company | Participated in the Series B round as a new investor. |
| Orbimed Advisors | Investor | Company | Contributed to the financing round and has a board observer in Adcendo. |
| Venrock Healthcare Capital Partners | Investor | Company | New investor in Adcendo's Series B round. |
| Surveyor Capital (a Citadel company) | Investor | Company | Participated in the Series B funding. |
| Logos Capital | Investor | Company | Contributed to the Series B round as a new investor. |
| RA Capital Management | Existing Investor | Company | An existing investor in Adcendo, also participating in the Series B round. |
| Novo Holdings | Existing Investor | Company | Continued investment in Adcendo's Series B financing. |
| Pontifax Venture Capital | Existing Investor | Company | Existing backer of Adcendo participating in the latest round. |
| Dawn Biopharma (a platform controlled by KKR) | Existing Investor | Company | Platform investing in Adcendo's development as part of the Series B round. |
| HealthCap | Existing Investor | Company | Participating in Adcendo's Series B financing. |
| Gilde Healthcare | Existing Investor | Company | Contributor to Adcendo's ongoing financing efforts. |
| Ysios Capital | Existing Investor | Company | A backer of Adcendo, involved in the Series B funding. |
| Michael Pehl | CEO | Person | Chief Executive Officer of Adcendo, overseeing the company's advancement and funding applications. |
| Cariad Chester | Managing Partner | Person | Managing Partner at TCGX and board member at Adcendo. |