105 million-euro Series A round for Adcytherix

European private equity firm Andera Partners announced that it has co-led the Series A financing round of Adcytherix, a French biotech start-up developing novel and proprietary antibody drug conjugates (ADC). The transaction represents the first investment from Andera Partners’ new BioDiscovery 7 fund.

The 105 million-euro ($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.

According to Andera, the funding positions Marseille-based 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.