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§ Private Profile · Copenhagen, Denmark
Clinical-stage biotech developing antibody-drug conjugates (ADCs) for targeted cancer in solid tumors and hematologic malignancies.
ADCendo is a clinical-stage biotechnology company based in Frederiksberg, Denmark, that develops first-in-class antibody-drug conjugates for targeted cancer treatments. The organization focuses on addressing solid tumors and hematologic malignancies with high unmet needs, such as soft tissue sarcomas and glioblastoma. Its therapeutics function by delivering cytotoxic payloads directly to tumor cells via novel designs targeting overexpressed receptors like uPARAP. Operating with fewer than 25 employees, the pre-revenue enterprise has raised $253 million across four equity financing rounds to advance its clinical pipeline. This capital includes a $135 million oversubscribed Series B round led by TCGX, alongside prominent institutional investors such as TPG, OrbiMed, RA Capital, and Novo Holdings. ADCendo was founded in 2017 as a spin-out from the University of Copenhagen by Niels Behrendt, Lars H. Engelholm, Christoffer Nielsen, and Henrik Stage.
ADCendo has raised $253.0M across 4 funding rounds.
ADCendo has raised $253.0M in total across 4 funding rounds.
ADCendo has raised $253.0M across 4 funding rounds. Most recently, it raised $140.0M Series B in November 2024.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Nov 1, 2024 | $140M Series B | TCGX | Access Biotechnology, Andera Partners, HealthCap, Pontifax Venture Capital, RA Capital, Ysios Capital | Announced |
| May 1, 2024 | $17M Series A | Dawn Biopharma | Access Biotechnology, HealthCap, Pontifax Venture Capital, RA Capital, Ysios Capital | Announced |
| Apr 1, 2023 | $34M Series A | Pontifax Venture Capital | Access Biotechnology, Andera Partners, HealthCap, RA Capital, Ysios Capital | Announced |
| Apr 1, 2021 | $62M Series A | Ysios Capital, Novo Seeds | Andera Partners, HealthCap, Pontifax Venture Capital, RA Capital | Announced |
Adcendo is a clinical-stage biotech company developing first-in-class antibody-drug conjugates (ADCs) for targeted cancer treatment, focusing on solid tumors and hematologic malignancies with high unmet needs.[1][2][3][4] It builds therapies like ADCE-D01, which targets the uPARAP receptor overexpressed in mesenchymal cancers such as soft tissue sarcomas, serving oncology patients underserved by current options.[1][4] The company solves the problem of imprecise cancer therapies by delivering cytotoxic payloads directly to tumor cells via novel ADC designs, with strong growth shown through $248.76M raised (latest $135M Series B six months ago) and FDA Fast Track for ADCE-D01.[1][4]
Headquartered in Copenhagen, Denmark, Adcendo aims to lead Europe in ADCs, guided by patient-centric, science-driven values.[3][4] Its pipeline advances rapidly, with the first patient dosed in the Phase I/II ADCElerate1 trial for ADCE-D01 and active participation in investor events.[4]
Adcendo was founded in 2017 in Frederiksberg, Denmark, by experts including co-founder Niels Behrendt and Chief Scientific Officer Dominik Mumberg, leveraging deep knowledge in oncology and ADC technology.[1][4][5] The idea emerged from identifying novel targets overexpressed in hard-to-treat cancers, addressing gaps in existing treatments for solid tumors and blood cancers.[2][3]
Early traction built through targeted funding: an €82M Series A (including a €31M extension led by Pontifax Venture Capital with Novo Holdings and Ysios Capital), followed by a $135M Series B.[1][2] Pivotal moments include collaborations like with Duality Biologics and recent clinical milestones, such as dosing the first patient in ADCE-D01's trial and securing FDA Fast Track Designation in 2025.[1][4]
Adcendo stands out in the ADC field through:
Adcendo rides the ADC boom, a trend exploding due to successes like Enhertu, with market forces favoring precision oncology amid rising cancer incidence and demand for targeted therapies over chemotherapies.[1][2][4] Timing is ideal: post-2020 ADC approvals have validated the modality, while soft tissue sarcoma pipelines (70+ companies) highlight competition yet gaps Adcendo fills via unique uPARAP targeting.[1]
It influences the ecosystem by pioneering European ADC innovation, fostering collaborations (e.g., Duality Biologics), and advancing underserved indications like sarcomas, potentially accelerating global access to differentiated therapies.[2][4]
Adcendo's trajectory points to key catalysts ahead: ADCElerate1 data readouts, pipeline expansions, and potential partnerships/big pharma deals, fueled by its Series B war chest.[1][4] Trends like AI-optimized payloads and combo therapies will shape ADCs, positioning Adcendo to capture share in the $10B+ market if clinical results confirm efficacy in sarcomas and beyond.[1]
Its influence could evolve from clinical pioneer to commercial leader, transforming outcomes for hard-to-treat cancers—echoing its origins in unmet needs with precision therapies designed for life.[3][4]
ADCendo has raised $253.0M in total across 4 funding rounds.
ADCendo's investors include TCGX, Access Biotechnology, Andera Partners, HealthCap, Pontifax Venture Capital, RA Capital, Ysios Capital, Dawn Biopharma, Novo Seeds.