On December 5, 2023 Adcentrx Therapeutics ("Adcentrx"), a biotechnology company dedicated to revolutionizing Antibody-Drug Conjugate (ADC) therapeutics for cancer and other life-threatening diseases, reported the extension of its Series A+ financing (Press release, Adcentrx Therapeutics, DEC 5, 2023, View Source [SID1234638177]). The additional $13 million adds to the $38 million Series A+ round that was closed in April 2023. The Series A+ extension included participation from Quan Capital and Partners Investment.
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"We are pleased to announce the extension of our Series A+ financing round," said Hui Li, Ph.D., Founder and CEO of Adcentrx. "With the backing of our new investors, we are better positioned to accelerate the clinical development of our lead program, ADRX-0706, and progression of additional pipeline programs towards the clinic. This allows us to continue our mission of creating differentiated therapeutics to address cancer and other life-threatening diseases."
Lighthouse Capital acted as Adcentrx’s financial advisor. The additional proceeds will be used by Adcentrx to continue advancing its propriety ADC therapeutic pipeline in the clinic.
About ADRX-0706
ADRX-0706 is an ADC product candidate discovered by Adcentrx. The antibody component targets Nectin-4, a cell surface adhesion protein over-expressed in multiple human cancers and associated with poor disease prognosis. The ADC is produced using Adcentrx’s proprietary i-Conjugation technology and novel tubulin inhibitor payload, AP052, to generate an ADC with a drug-antibody ratio of eight (DAR 8). ADRX-0706 has a favorable pharmacokinetic and safety profile in preclinical models, and has demonstrated significant efficacy across a variety of tumor indications. ADRX-0706 is currently being evaluated in a Phase 1a/b clinical trial. For more information about the trial, please refer to the Study ID NCT06036121 on ClinicalTrials.gov.