San Diego-based biotech startup Adcentrx Treatments raises USD 38 million in Series A+ funding

April 24, 2023, in Shanghai and San Diego –  The biotechnology startup Adcentrx Treatments (“Adcentrx”) announces the completion of a USD 38 million Series A+ fundraising. Adcentrx is committed to revolutionizing Antibody-Drug Conjugate (ADC) therapies for cancer and other life-threatening disorders. Eight Roads Ventures served as the round’s lead investor. Other strategic investors included F-Prime Capital, ABio-X, Delta Capital, Trinity Innovation Fund, and others. Adcentrx received financial advice from Life Venture Partners and Lighthouse Capital. Adcentrx plans to advance its unique ADC pharmaceutical pipeline into the clinic using the financing’s revenues.

ADCs are a group of treatments that combine traditional chemotherapeutic medicines’ potency with antibodies’ target-specificity. This class has revolutionized the oncology therapy landscape and may also have a good effect on other severe diseases. Adcentrx sets itself apart from the competition by utilizing its team’s extensive chemistry and biology knowledge and industry-leading experience in creating ADC drugs. The team has been at the forefront of developing an ADC technology toolbox that addresses important aspects of protein conjugate design to address problems that cropped up in earlier generations of ADCs. Adcentrx uses this optimized strategy to support the creation of a strong pipeline of best-in-class and first-in-class treatments.

Hui Li, Ph.D., the founder and CEO of Adcentrx, said, “We are happy to have Eight Roads and our investors supporting our objective to offer cutting-edge medicines to patients. We have advanced our developing therapeutic pipeline, which uses our patented and unique technology platform, significantly during the past two years. Adcentrx will be able to quickly progress its safer and more effective conjugate medicines for patients in need thanks to this latest round of funding from our investors. It will be crucial when Adcentrx moves from the discovery stage to a clinical-stage company this year.

With a dramatic increase in active investment and strategic transactions, ADCs as a therapeutic modality have blossomed recently. Tao Huang, Ph.D., Principal of Eight Roads Ventures, stated that Adcentrx had shown good promise for generating unique ADCs for unmet medical needs. “We are thrilled to be leading this round of financing to enable Adcentrx to accelerate its work in giving patients in need new hope,” the company said.

A biotechnology business called Adcentrx is dedicated to quickening the development of protein conjugate therapeutics for cancer and other serious illnesses. Adcentrx works to create next-generation targeted medicines for enhancing patient treatment options by fusing the targeting accuracy of biologics with the disease-fighting potency of small molecule payloads.

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