Biotechnology firm Adcentrx has successfully extended its Series A+ financing, securing an additional $13 million. This extension follows the closure of the initial $38 million Series A+ round in April 2023. Notable participants in the financing include Quan Capital and Partners Investment, contributing to Adcentrx’s mission of revolutionizing Antibody-Drug Conjugate (ADC) therapeutics for cancer and other life-threatening diseases.
Hui Li, Ph.D., Founder and CEO of Adcentrx, expressed satisfaction with the Series A+ extension, emphasizing its significance in advancing the clinical development of the company’s lead program, ADRX-0706, and progressing additional pipeline programs toward clinical trials. The funds will support the continued development of Adcentrx’s proprietary ADC therapeutic pipeline.
ADRX-0706, a key product candidate discovered by Adcentrx, is an ADC designed to target Nectin-4, a cell surface adhesion protein over-expressed in multiple human cancers. The ADC utilizes Adcentrx’s proprietary i-Conjugation™ technology and a novel tubulin inhibitor payload, AP052, resulting in an ADC with a drug-antibody ratio of eight (DAR 8). ADRX-0706 has demonstrated promising efficacy across various tumor indications in preclinical models and is currently undergoing evaluation in a Phase 1a/b clinical trial (Study ID NCT06036121).
Adcentrx is focused on leveraging its expertise in protein conjugate therapeutic development to create differentiated therapies that address critical medical needs. By combining the precision of biologics with the therapeutic power of small molecule payloads, Adcentrx aims to contribute to advancements in targeted therapies for improved patient outcomes. The successful Series A+ extension further positions the company to accelerate breakthroughs in the field of ADC therapeutics.