( MENAFN - GlobeNewsWire - Nasdaq) Adcytherix Launches with € 30m in Seed Funding to Develop Next Generation Antibody Drug Conjugates Vision is to establish a leading ADC developer to treat high unmet need diseases such as cancer. Founded by the team that founded and sold Emergence Therapeutics to Eli Lilly and Company. Seed round led by Pontifax and includes top-tier life science investors.
Marseille, France, 11 June 2024 : Adcytherix SAS today announced its incorporation and seed funding of € 30 million to develop novel antibody-drug- conjugates (ADCs) for the treatment of high unmet need diseases such as cancer. The company was founded by Jack Elands and Pontifax Venture Capital with Xavier Preville and Carsten Dehning as co-founders. Adcytherix' senior management team comprises Jack Elands (CEO), Carsten Dehning (CFO) and Xavier Preville (VP, Head of Research and Preclinical Development).
The seed round was led by Pontifax and supported by Pureos Bioventures, RA Capital Management and Dawn Biopharma (a platform controlled by KKR). Management also participated in the seed round. Jack Elands, CEO of Adcytherix commented :“Our new company has as objective to meet the most urgent need of patients by developing a next generation of ADCs.
We are excited that the top tier investors and business partners that supported us before joined us again to help us achieve our goals.” Ran Nussbaum, Partner at Pontifax Venture Capital added :“We are excited to be part of this new .
