Biotech
Ysios Capital Invests Another $135 Million into Adcendo
Ysios Capital joined Adcendo’s $135M Series B round, the EU’s largest in biotech this year, enabling Adcendo to advance its cancer-targeting ADC pipeline. Based in Spain, Ysios manages €400M across three life sciences funds. Adcendo, founded in 2017 as a Copenhagen spin-out, develops immunoconjugated drugs to address unmet cancer treatment needs.
Ysios Capital is investing in Adcendo once again. The venture capital firm is reinforcing its investment in the Danish biotechnology company with a record capital injection for the sector in Europe so far this year.
Specifically, Ysios Capital has participated in the Series B round with $135 million in Adcendo. This is the second time that the Spanish asset manager has bet on the Nordic company after having led a Series A round in 2021.
This operation is the largest Series B financing round in the European Union so far this year and one of the most significant for the biotechnology sector. Ysios Capital assures that, with this operation, Europe can compete directly with the United States in cutting-edge biotechnology.
With this expansion, Adcendo will be able to advance, expand and accelerate the development of its pipeline of ADCs designed to address cancer types with previously unmet medical needs.
Ysios Capital has three funds specialized in life sciences
This latest round was led by Tcgx and also included the participation of international investors such as TPG Life Science Innovations, Orbimed Advisors, Venrock Healthcare Capital Partners, Surveyor Capital (Citadel) and Logos Capital alongside Ysios Capital.
RA Capital Management, Novo Holdings, Pontifax Venture Capital, Dawn Biopharma, HealthCap and Gilde Healthcare, which already had stakes in Adcendo, also participated in the new transaction.
Ysios Capital is a San Sebastian and Barcelona-based asset manager specialising in investments in life sciences companies developing disruptive therapeutic products. Founded in 2008, the company manages more than €400 million through three funds specialising in life sciences and is led by an international team with experience in managing biotechnology companies.
Adcendo is a spin-out company from the University of Copenhagen and Rigshospitalet. It was previously part of the BioInnovation Institute’s Creation House programme, which develops novel immunoconjugated drugs (ADCs) for the treatment of various types of cancer.
The company was founded in 2017 by scientists Niels Behrendt, Lars Henning Engelholm and Christoffer Nielsen from the Finsen Laboratory at Rigshospitalet and the University of Copenhagen, and Henrik Stage, a biotech entrepreneur active in several biotech companies and previously CEO of Santaris Pharma, which was acquired by Roche in 2014.
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(Featured image by Marek Studzinski via Unsplash)
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