- Financing co-led by Andera Partners, Angelini Ventures, Bpifrance and Kurma Partners
- Proceeds to advance lead program ADCX-020 into the clinic, with first IND and CTA filings planned by end 2025
- Funding to advance additionnal innovative ADC programs into the clinic with strategic focus on novel payloads
Andera Partners, a leading European private equity player, today announced that it has co-led the Series A financing round of Adcytherix, a biopharmaceutical company developing novel and proprietary antibody drug conjugates (ADC).
The transaction represents the first investment from Andera Partners’ new BioDiscovery 7 fund.
The €105 million ($122 million) funding round was co-led by Andera Partners, Angelini Ventures, Bpifrance (as part of both Large Venture and InnoBio investment strategies) and Kurma Partners, followed by Surveyor Capital (a Citadel company), aMoon and existing shareholders Pontifax, DawnBiopharma (a platform controlled by KKR), Pureos Bioventures and RA Capital.
This Series A positions Adcytherix as one of the most promising ADC players, leveraging novel payload classes and an experienced team to bring targeted cancer treatments to patients. The funding will enable the company to advance its lead candidate ADCX-020 into the clinic, with first investigational new drug (IND – US) and clinical trial applications (CTA – EU, UK and Canada) filings planned by end 2025. In parallel, Adcytherix will expand its pipeline of proprietary ADCs using novel payloads.
Jack Elands, Chief Executive Officer and founder of Adcytherix, commented: “Closing the largest ADC-focused Series A in Europe in 2025 validates our science, our vision, and the exceptional work of our team since inception just 18 months ago. We are proud to have attracted a world-class syndicate of investors who share our ambition to develop breakthrough ADCs for patients resistant to the current classes of ADCs.”
Sofia Ioannidou, PhD, Partner at Andera Partners, added: “We are delighted to make our first investment from the BioDiscovery 7 fund in this landmark transaction. Adcytherix stands out with its deep ADC expertise, a differentiated lead program, and a distinctive strategy focused on novel payload classes with the potential to both expand the reach of ADCs to tumors that currently respond poorly or not at all to this modality, and to overcome resistance mechanisms observed with commonly used payloads. We look forward to supporting Jack and his team as they build a next-generation ADC platform capable of delivering transformative therapies to patients.”
Sofia Ioannidou of Andera Partners has joined the Supervisory Committee following the Series A financing.