Adcentrx Therapeutics, a biotechnology company dedicated to revolutionizing Antibody-Drug Conjugate (ADC) therapeutics for cancer and other life-threatening diseases, has successfully closed a $38 million Series A+ financing round.
Led by Eight Roads Ventures and with participation from F-Prime Capital, ABio-X, Delta Capital, Trinity Innovation Fund, and other strategic investors, this funding will help Adcentrx advance its proprietary ADC therapeutic pipeline into the clinic and further its mission of treating cancer and other debilitating illnesses. Life Venture Partners and Lighthouse Capital acted as Adcentrx’s financial advisors on the round.
Adcentrx is revolutionizing the treatment landscape in oncology, and beyond, with a class of therapies that combine the target specificity of antibodies with the potency of conventional chemotherapy drugs. Leveraging its team’s industry-leading experience in ADC drug development and deep expertise in chemistry and biology, the company has pioneered a novel ADC technology toolbox addressing key components of protein conjugate design.
With this optimized approach, Adcentrx is rapidly advancing its robust pipeline of first-in-class and best-in-class therapies, with the lead candidate, ADRX-0706, anticipated to enter Phase 1 clinical trials in the second half of 2023. By aiming to advance at least one new candidate into the clinic each year, Adcentrx is leading the way in making cutting-edge treatments available to those who need it most.
Adcentrx is thrilled to have Eight Roads and its investors join them on their mission to bring innovative treatments to patients. Over the last two years, they have made great strides in advancing their unique therapeutic pipeline and this new round of funding will allow them to speed up the process of creating safer and more effective conjugate therapies. This year will be a defining moment for Adcentrx as they make the transition from a discovery-focused company to a clinical-stage one.
Adcentrx is making strides in developing differentiated ADCs to meet unmet medical needs – a feat made possible by a transformative influx of active investment and strategic transactions. We are delighted to lead this round of financing in order to assist Adcentrx in their mission of bringing new hope to those in need, said Tao Huang, Ph.D., Principal of Eight Roads Ventures.
ABio-X is thrilled to join forces with other top-tier investors to support Adcentrx in this financing round. Adcentrx epitomizes the type of company that ABio-X was created to boost as a global platform for advancing the healthcare landscape of the future.
Through our board representation and platform, we will continue to back Adcentrx in their pioneering ADC work. Jeff Jonas, President and CEO of ABio-X, commented, “We are delighted to be a part of this investment round and look forward to our future collaborations.”
Adcentrx has made remarkable strides in constructing its preclinical pipeline and platform technology since CBC Group’s initial investment. In collaboration with the ABio-X team, we are thrilled to reinforce our commitment to Adcentrx’s continuing expansion and advancement.
Adcentrx is a cutting-edge innovation company with global ambitions, and Lighthouse Capital is honored to be part of its mission to tackle the challenges of ADC drug development. Our involvement in this investment round, alongside other renowned venture funds and industry players, is testament to Adcentrx’s increasing profile in the industry. We look forward to following their progress as they bring their revolutionary ADCs to the clinic.
About Adcentrx Therapeutics
Adcentrx is a pioneering biotechnology company blazing a trail in the development of protein conjugate therapies for cancer and other life-threatening diseases. By combining the precision of biologics with the potency of small molecule payloads, Adcentrx is on a mission to create cutting-edge targeted treatment options that can give patients a fighting chance. With Adcentrx at the helm, the future of cancer treatment looks brighter than ever.
About Eight Roads Ventures
Eight Roads Ventures is a global powerhouse of investment backed by Fidelity, with a staggering $11 billion of assets under its management. The firm is renowned for its 50-year history of successful investments, with over 300 healthcare and technology companies having benefited from its partnership.
Among its global investments are some of the most notable names in the industry, such as Alibaba, Beam Therapeutics, Pony.ai, Innovent Biologics, Insilico Medicine, Hibob, Medbanks, Semma Therapeutics and WuXi PharmaTech.
For over half a century, F-Prime Capital has been at the forefront of global venture capital, investing in innovative healthcare and technology companies. By supporting passionate entrepreneurs, the firm has been instrumental in helping to create some of the world’s most groundbreaking companies. With a wealth of experience and a commitment to excellence, F-Prime Capital is a leader in its field.
ABio-X is on a mission to revolutionize the healthcare industry, having been founded in 2021 by Singapore-based CBC Group, Asia’s largest healthcare-dedicated asset management firm. Our goal is to incubate innovative, transformative medicines and solutions that make a lasting impact in the global market. With our cutting-edge research and development, we are dedicated to delivering groundbreaking solutions to the world.
About Delta Capital
Delta Capital has been a leader in early-growth and growth equity investment since 2010. Our team of fifteen experienced professionals are experts in their respective fields, making us a prominent player in the Chinese venture capital market.
Our investment strategy focuses on identifying and investing in high-growth companies in the Technology (semiconductor value chain, AI, biotech) and Consumer Services sectors. We believe in the power of early-growth equity investments to propel great companies to even greater heights.
About Trinity Innovation Fund
At Trinity Innovation Fund (TIF), we believe that innovation is the key to curing humanity. That’s why we’ve partnered with renowned biopharmaceutical companies and investment institutions to invest in biomedical innovations and help passionate scientists and entrepreneurs develop their groundbreaking scientific research into successful corporate ventures. By joining forces, we can turn these innovations into real-world solutions. Together, we can make a difference!
About Lighthouse Capital
Lighthouse Capital is a new generation boutique investment bank in China that is revolutionizing the industry with its rapid growth. Since its founding in 2014, Lighthouse has been striving to bring innovative capital services and ecological empowerment to enterprises with a global vision, helping to drive industrial upgrading and development.
The firm’s comprehensive suite of services includes private equity financing, mergers and acquisitions, asset management, securities underwriting, and industrial development advisory.