Novo Seeds co-led a $61.7m round for the oncology therapy developer with Ysios Capital, following a Novo Nordisk Foundation grant.

Denmark-based antibody drug conjugate (ADC) developer Adcendo completed a €51m ($61.7m) series A round yesterday co-led by pharmaceutical firm Novo through its Novo Seeds subsidiary.

Venture capital firm Ysios Capital co-led the round, which also featured investment management firm RA Capital Management, VC firm HealthCap and healthcare investment firm Gilde Healthcare.

Adcendo is developing ADCs intended to treat cancer, and its drug candidates are targeting the uPARAP cell-surface receptor. The round follows a grant from Novo’s owner, Novo Nordisk Foundation.

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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