Adcytherix SAS, a French biopharmaceutical company developing next-generation antibody drug conjugates (ADCs), has closed a €105 million (US$122 million) Series A funding round — the largest ADC-focused Series A in Europe this year.
The round was led by Bpifrance, through its Large Venture and InnoBio strategies, and co-led by Kurma Partners, Andera Partners, and Angelini Ventures. An international syndicate of top-tier investors also joined the round, including Surveyor Capital (a Citadel company) and aMoon. Existing investors and the company’s founders also participated.
This substantial investment positions Adcytherix as an emerging leader in the ADC space, with a focus on novel payload technologies aimed at overcoming resistance to current ADC therapies.
The funding will support the advancement of the company’s lead candidate, ADCX-020, into clinical trials. Regulatory filings for Investigational New Drug (IND) and Clinical Trial Applications (CTA) in the US, EU, UK, and Canada are expected by the end of 2025. The company will also continue to expand its pipeline of proprietary ADCs.
“Closing the largest ADC-focused Series A in Europe validates our science, our vision, and the exceptional work of our team since inception just 18 months ago,” said Jack Elands, CEO and founder of Adcytherix. “We’re proud to have assembled a world-class syndicate of investors who share our mission to develop breakthrough therapies for patients with limited options.”
Bpifrance, the lead investor, emphasized Adcytherix’s potential to become a key player in ADC innovation. “With this sizeable financing, we believe Adcytherix is uniquely positioned to establish itself as a major player in the field of ADCs by building its differentiation strategy around new payloads,” said Laurent Higueret, Deputy Director at Bpifrance’s Large Venture Fund.
Kurma Partners’ Peter Neubeck also highlighted the strength of the team, noting prior successful collaborations with Elands. “There are few teams with this level of expertise in both technology and development strategy,” he said.
As part of the financing, key investors including Bpifrance, Kurma, Andera, Pontifax, and others will join the company’s Supervisory Committee, with representatives from RA Capital and aMoon participating as observers.
With its fresh capital and growing investor support, Adcytherix is poised to accelerate development of a new generation of targeted cancer therapies built on differentiated payload platforms.