Antibody-drug conjugate (ADC) biotech company Adcentrx Therapeutics has closed a $38 million Series A+ financing.
The round was led by Eight Roads Ventures, with participation from F-Prime Capital, ABio-X, Delta Capital, Trinity Innovation Fund, and other strategic investors. Life Venture Partners and Lighthouse Capital acted as Adcentrx’s financial advisors.
Adcentrx Therapeutics intends to use the proceeds from the financing to advance its proprietary ADC therapeutic pipeline into the clinic.
ADCs, which combine the target specificity of antibodies with the potency of conventional chemotherapy drugs, have revolutionized the treatment landscape in oncology with the potential to positively impact other serious diseases.
Adcentrx Therapeutics ADC toolbox
Adcentrx Therapeutics has pioneered the development of an ADC technology toolbox addressing key components of protein conjugate design to solve challenges that arose in previous generations of ADCs. Adcentrx implements this approach to fuel the development of a robust pipeline of first-in-class and best-in-class therapies.
The company’s lead candidate, ADRX-0706, is anticipated to enter a first-in-human phase 1 clinical trial in the second half of 2023. Adcentrx is developing additional candidates in parallel with the goal of advancing at least one into the clinic each year.
“We are thrilled to have Eight Roads and our investors supporting our mission to bring innovative treatments to patients,” said Hui Li, founder and CEO of Adcentrx.
“Over the last two years, we have made significant progress advancing our emerging therapeutic pipeline that implements our proprietary and differentiated technology platform. This new round of funding from our investors will enable Adcentrx to quickly advance our safer and more efficacious conjugate therapies for patients in need. This year will be pivotal for Adcentrx, when we transition from the discovery stage into a clinical stage company.”