French Biotech Adcytherix Secures €105 Million Series A for ADC Development

Adcytherix, a French antibody-drug conjugate (ADC) specialist, has successfully closed a €105 million ($122 million) Series A funding round, marking a significant milestone in the company's journey to advance its lead candidate into clinical trials. The investment, led by Bpifrance, positions Adcytherix at the forefront of European ADC development and underscores growing investor confidence in the potential of targeted cancer therapies.

Funding Details and Investor Lineup

The Series A round saw participation from a diverse group of investors, including Kurma Partners, Andera Partners, Angelini Ventures, Citadel's Surveyor Capital, and aMoon. Notably, all of Adcytherix's founders and previous investors also contributed to this latest funding effort. This substantial injection of capital more than triples the company's previous seed funding of €30 million, which was secured in June 2024 under the leadership of Pontifax Venture Capital.

Strategic Plans and Clinical Push

With this new influx of funds, Adcytherix has outlined an ambitious strategy to accelerate its drug development pipeline:

1. The company aims to file an Investigational New Drug (IND) application in the United States for its lead candidate, ADCX-020, by the end of the year.
2. Simultaneous clinical trial applications are planned for submission in the United Kingdom, Canada, and Europe.
3. Adcytherix will focus on expanding its ADC pipeline, reinforcing its commitment to developing novel treatments for cancers with high unmet needs.

Industry Context and Adcytherix's Position

The successful fundraising by Adcytherix comes at a time of mixed fortunes for ADC startups in 2025. While some companies have secured significant investments, others have faced setbacks:

• Minghui Pharmaceutical raised $131 million in a Series B round in August.
• Callio Therapeutics launched with a $187 million Series A.
• In contrast, Sutro Biopharma underwent two rounds of layoffs after losing a deal with Ipsen.
• ADC Therapeutics deactivated its U.K. research site and reduced its workforce by 30% following the discontinuation of its only clinical-stage asset.

Adcytherix's €105 million Series A stands out as the largest ADC-focused early-stage funding in Europe this year, highlighting the company's strong position and investor appeal in a competitive landscape.