Novo Seeds, Ysios Capital lead €51m round for Adcendo
Early-stage investors Novo Seeds and Ysios Capital have co-led a series-A funding round of €51m for Danish biotech company Adcendo.
RA Capital Management, HealthCap and Gilde Healthcare also took part in the round.
The company, which is developing antibody-drug conjugates (ADC) for the treatment of cancers, will use the funding to establish a pipeline of ADCs directed at novel cancer targets and to bring the lead programme targeting the novel cancer target uPARAP/Endo180 to proof of concept in patients.
The company has been backed by Novo Seeds since 2017 and was incubated in 2018 at the BioInnovation Institute (BII), an international life sciences incubator in Copenhagen.
Company
Adcendo was founded in 2017 in Copenhagen, as a spinout from the Finsen Laboratory of Rigshospitalet and the University of Copenhagen. The biotech company is developing ADCs for the treatment of cancers. Its lead programme involves targeting the novel cancer target uPARAP/Endo180.
It has fewer than 10 employees.
People
Adcendo – Henrik Stage (CEO).
Novo Seeds – Jeroen Bakker (principal).
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