uPARAP Targeting Antibody Drug Conjugates (ADCendo)

Series A Financing extension led by Pontifax Venture Capital and existing investors Novo Holdings and Ysios Capital, raising an additional 31M EUR Funds will be used to ensure broad pan-sarcoma development of lead ADC asset uPARAP and to further advance second ADC pipeline asset Ohad Hammer, partner at Pontifax Venture Capital, joins Board of Directors COPENHAGEN, Denmark, April 4, 2023 /PRNewswire/ -- Adcendo ApS ("Adcendo"), a biotech company 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 31 million EUR, following the 51 million EUR Series A financing in April 2021. The financing was led by Pontifax Venture Capital, a leading healthcare-focused venture capital firm and existing investors Novo Holdings and Ysios Capital. Current investors RA Capital Management, HealthCap and Gilde Healthcare participated as well. As part of the investment, Ohad Hammer, partner at Pontifax Venture Capital, will join the Adcendo Board of Directors. uPARAP is a novel cancer target overexpressed on the cell surface of sarcoma and other mesenchymal 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. 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. Michael Pehl, Chief Executive Officer of Adcendo, said: "This financing underscores the confidence that our investors have in Adcendo's capabilities and potential to develop innovative ADC cancer therapies in high unmet medical need cancers. We are pleased to welcome Ohad Hammer to the Adcendo Board of Directors, who brings a wealth of experience in supporting and advancing early-stage biotech companies. 2022 was a pivotal year for Adcendo with the expansion of our team, uPARAP ADC Development Candidate Nomination and the recent linker/payload license agreement with Duality Biologics. This financing will enable us to ensure a broad development program of our lead asset uPARAP and further advance our 2nd first-in-class ADC pipeline asset." Ohad Hammer, Board Director of Adcendo and Partner at Pontifax Venture Capital, commented: "We are excited to support Adcendo's efforts to bring new treatments to patients with cancer as we continue our focus on seeking exciting transformative technologies to treat substantial unmet medical need indications. Adcendo's ADC capabilities offer significant potential and I look forward to closely working with the team to develop their pipeline assets and bring innovative therapies to patients in 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 82M EUR 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 About antibody-drug conjugates (ADCs) ADCs are a class of highly potent biopharmaceutical drug composed of a targeting antibody linked to a biologically active drug or cytotoxic compound. ADCs combine the unique and very sensitive targeting capabilities of antibodies, with the potent effects of the conjugated cytotoxic drugs, allowing sensitive discrimination between healthy and cancer tissues. About the uPARAP receptor uPARAP is a recycling endocytic receptor involved in collagen homeostasis and turnover. uPARAP exhibits a limited expression profile in healthy tissues but is highly upregulated in mesenchymal cancers, including soft-tissue sarcoma & osteosarcoma, making it a highly attractive target for ADC development. In late 2022, Adcendo nominated its ADC development candidate. About Pontifax Venture Capital Pontifax was founded in 2004 and is a healthcare-dedicated venture capital firm with $1.2 billion under management. Pontifax focuses on groundbreaking innovations in life sciences. It seeks transformative, cutting-edge life sciences technologies at all development stages. Its portfolio comprises of about 100 companies that develop breakthrough solutions to substantial unmet needs. For more information, please visit: SOURCE Adcendo

Credit: Shutterstock/ nepool On 4 April, the Danish immune-oncology company Adcendo announced the extension of a series A financing round to €82 million ($89.6 million). Adcendo is developing antibody-drug conjugates (ADCs) to treat cancers with few approved therapies. Free Report How is the Biopharmaceutical industry evolving? 2021 was a year of continued innovation and change in the Biopharmaceutical industry. As the COVID-19 pandemic continues to take its toll on businesses worldwide, it’s time to look for new ways to create value, prepare for the future, and remain competitive in the ever-changing landscape. GlobalData’s expansive report examines the business environment and trends that shape the Biopharmaceutical industry. We highlight the most impactful emerging technologies, as well as the industry, regulatory, and macroeconomic factors that influence growth prospects. Access the report to: Benchmark the impact of major themes on the Biopharmaceutical industry. Gain a deeper "on the ground" perspective through exclusive opinions and analysis from industry respondents. Evaluate the effects of COVID-19 on the sector. Download the full report to understand what to expect and how to align your strategies for success. 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Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address. Thank you. Please check your email to download the Report. In April 2021, the company had announced the completion of a €51 million ($62 million) Series A round. Adcendo then went on to raise the additional €31 million ($33.9 million) in the latest extension round, which was led by Pontifax Venture Capital, and existing investors Novo Holdings and Ysios Capital, along with RA Capital Management, HealthCap and Gilde Healthcare. The company is developing a pipeline of ADCs targeting uPARAP (Endo180), an endocytic collagen receptor that is upregulated in several cancers. Adcendo’s ADCs treat cancer by inhibiting uPARAP, which is present on several mesynchymal cancer cells such as fibroblasts, osteoblasts and chondrocytes. When proteins bind to uPARAP, the receptor internalizes and degrades them. Inhibiting uPARAP receptors reduces bone degradation and helps reconstruct tissue in the body. The company studied its first ADC candidate in mice in 2022 , and found sufficient evidence to suggest its possible use for sarcoma treatment. According to GlobalData, Adcendo is at the preclinical stage of developing ADCs for solid tumours, osteosarcoma, glioblastoma (multiforme), malignant mesothelioma, soft tissue sarcoma and acute promyelocytic leukemia. With the latest funds, the company plans to advance its second ADC candidate to the Development Candidate Nomination (DCN) stage in H1 2024. GlobalData is the parent company of Pharmaceutical Technology. In 2022, Adcendo announced a license agreement with Duality Biologics , a Chinese clinical stage biotech also focused on the discovery and development of ADCs. Duality Biologics has a clinical pipeline of five solid tumour drugs, that are in different stages of development from preclinical to Phase II. The company also has two autoimmune drugs, DB-2304 and DB-2306 in preclinical development. Under the terms of the agreement, Adcendo will license Duality’s proprietary DITAC (Duality Immune Toxin Antibody Conjugates) linker platform for its uPARAP-ADC program in mesenchymal cancers. The DITAC platform aims to generate ADCs that can kill antigen low and negative cells efficiently. In a press release accompanying the recen funding news, Adcendo’s CEO Michael Pehl said, “This financing underscores the confidence that our investors have in Adcendo’s capabilities and potential to develop innovative ADC cancer therapies in high unmet medical need cancers”. Free Report How is the Biopharmaceutical industry evolving? 2021 was a year of continued innovation and change in the Biopharmaceutical industry. As the COVID-19 pandemic continues to take its toll on businesses worldwide, it’s time to look for new ways to create value, prepare for the future, and remain competitive in the ever-changing landscape. GlobalData’s expansive report examines the business environment and trends that shape the Biopharmaceutical industry. We highlight the most impactful emerging technologies, as well as the industry, regulatory, and macroeconomic factors that influence growth prospects. Access the report to: Benchmark the impact of major themes on the Biopharmaceutical industry. Gain a deeper "on the ground" perspective through exclusive opinions and analysis from industry respondents. Evaluate the effects of COVID-19 on the sector. Download the full report to understand what to expect and how to align your strategies for success. 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