Dentons advises Bpifrance Large Venture on the oversubscribed US$75 million Series C financing of Acendo ApS

Paris-Dentons' Paris office has advised Bpifrance Large Venture in the oversubscribed US$75 million Series C financing of Danish-headquartered global biotech company, Adcendo ApS. The funds will be used to support the advancement of a pipeline of first and best in class antibody-drug conjugate (ADC) programs through upcoming clinical milestones.

New investors Jeito Capital, Vida Ventures, Bpifrance Large Venture and EIFO joined the round with participation from all existing investors, including TCGX, RA Capital Management, TPG, Orbimed, Venrock, Surveyor, Logos Capital, Novo Holdings, Pontifax Venture Capital, Dawn Biopharma, a platform controlled by KKR, HealthCap, Gilde Healthcare and Ysios Capital.

Proceeds from the round will be used to support Adcendo through multiple upcoming key clinical milestones from its first- and best-in-class ADC pipeline, including the ADCE-T02 (Tissue Factor ADC) Phase I Tiffany-01 Cohort expansion study in multiple high unmet need tumor indications, the ADCE-D01 (uPARAP) ADCElerate1 dose escalation and expansion study in soft tissue sarcoma and other cancers of mesenchymal origin, and the ADCE-B05 (undisclosed target) dose escalation study in squamous cell carcinomas.

The Dentons team advising Bpifrance Large Venture on this transaction included Olivia Guéguen, partner, Laura Godard, counsel, and Lisa Morand, associate.

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