French biopharmaceutical company Adcytherix has successfully closed a €105 million ($122 million) Series A financing round to advance its novel antibody-drug conjugate (ADC) programs into clinical development. The round was led by Bpifrance and co-led by Kurma Partners, Andera Partners, and Angelini Ventures, with participation from an international syndicate including Surveyor Capital (a Citadel company) and aMoon.
The Marseille-based company, founded just 18 months ago, plans to use the proceeds to advance its lead candidate ADCX-020 into clinical trials, with investigational new drug (IND) and clinical trial applications (CTA) filings planned by the end of 2025. The funding will also support expansion of Adcytherix's proprietary ADC pipeline using novel payloads.
Breakthrough ADC Technology Platform
Adcytherix differentiates itself in the competitive ADC landscape through its focus on novel payload classes designed to treat patients resistant to current ADC therapies. The company's approach targets high unmet medical needs in cancer treatment by developing breakthrough ADCs that leverage innovative payload technology.
"Closing the largest ADC-focused Series A in Europe in 2025 validates our science, our vision, and the exceptional work of our team since inception just 18 months ago," said Jack Elands, Chief Executive Officer and founder of Adcytherix. "We are proud to have attracted a world-class syndicate of investors who share our ambition to develop breakthrough ADCs for patients resistant to the current classes of ADCs."
Strategic Investor Backing
The financing attracted participation from leading life science investors across multiple geographies. Laurent Higueret, Deputy Director at Bpifrance's Large Venture Fund, emphasized the company's positioning: "With this sizeable financing, we believe Adcytherix is now uniquely positioned to establish itself as a major player in the field of antibody drug conjugates by building its differentiation strategy around new payloads."
Olivier Martinez, Senior Investment Director at Bpifrance's InnoBio funds, highlighted the team's expertise: "The caliber of the Adcytherix team and the quality of its R&D around new innovative payloads convinced us to lead this Series A round. The company is uniquely positioned to advance differentiated ADCs against cancers of high unmet need."
Peter Neubeck, Partner at Kurma Partners, noted the team's proven track record: "There are few teams featuring this level of expertise in technology and development strategy, both of which are vital to succeed in today's rapidly evolving ADC space."
Clinical Development Timeline
The company's lead program ADCX-020 represents the first of Adcytherix's novel ADC candidates to enter clinical development. The planned IND and CTA filings by end of 2025 will mark a significant milestone for the young company as it transitions from preclinical research to human testing.
Leadership and Governance
As part of the Series A financing, several new members joined Adcytherix's governance structure. Olivier Martinez and Laurent Higueret of Bpifrance, Peter Neubeck of Kurma Partners, and Sofia Ioannidou of Andera Partners joined the Supervisory Committee alongside existing members including Ohad Hammer of Pontifax, Ximing Ding of Pureos Bioventures, Iyona Rajkomar of DawnBiopharma, and founder Jack Elands.
The company was founded by Jack Elands along with Xavier Preville and Carsten Dehning, all former executives of Emergence Therapeutics, bringing significant experience in ADC development to the venture. Adcytherix operates from its headquarters in Marseille, France, with subsidiaries in the United States and the Netherlands.
