French Biotech Adcytherix Raises €105M To Advance Innovative Cancer-Fighting ADCs

The round was co-led by Andera Partners, Angelini Ventures, Bpifrance (under its Large Venture and InnoBio strategies), and Kurma Partners, with participation from Surveyor Capital (a Citadel company), aMoon, and existing investors Pontifax, DawnBiopharma (KKR-controlled), Pureos Bioventures, and RA Capital. This marks the first investment from Andera Partners’ new BioDiscovery 7 fund.

Jack Elands, Chief Executive Officer and Founder of Adcytherix, commented: “Closing the largest ADC-focused Series A in Europe in 2025 validates our science, our vision, and the exceptional work of our team since inception just 18 months ago. We are proud to have attracted a world-class syndicate of investors who share our ambition to develop breakthrough ADCs for patients resistant to the current classes of ADCs.”

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Adcytherix’s Series A comes amid other notable European bioconjugate and oncology funding rounds, including Munich-based Tubulis’s €308 million Series C to advance its ADC pipeline, and Montpellier’s Ciloa raising €6.5 million to develop engineered exosome therapies.

These deals highlight continued investor interest in innovative biologics across Europe covering both antibody and vesicle-based therapeutics. With this new funding, Adcytherix joins Tubulis in a growing ADC landscape strengthening European capabilities in targeted oncology drug development.

Sofia Ioannidou, PhD, Partner at Andera Partners, added: “We are delighted to make our first investment from the BioDiscovery 7 fund in this landmark transaction. Adcytherix stands out with its deep ADC expertise, a differentiated lead programme, and a distinctive strategy focused on novel payload classes with the potential to both expand the reach of ADCs to tumors that currently respond poorly or not at all to this modality, and to overcome resistance mechanisms observed with commonly used payloads.

“We look forward to supporting Jack and his team as they build a next-generation ADC platform capable of delivering transformative therapies to patients.”

Founded in 2024, Adcytherix is a biopharmaceutical company developing novel antibody-drug conjugates (ADCs) to address high unmet needs, including cancer. The company was established by Jack Elands and Pontifax Venture Capital, alongside Xavier Preville and Carsten Dehning, former executives of Emergence Therapeutics, as co-founders.

Adcytherix aims to become a leading independent ADC powerhouse, advancing transformational ADC technologies for targeted cancer therapy.

The new funding will support the progression of its lead candidate, ADCX-020, into clinical development, with IND (US) and CTA (EU, UK, Canada) filings planned by the end of 2025. At the same time, the company will continue to expand its pipeline of proprietary ADCs with novel payloads.

Following the Series A, Sofia Ioannidou of Andera Partners will join Adcytherix’s Supervisory Committee.

About Adcytherix

Adcytherix is a biopharmaceutical company developing innovative antibody-drug conjugates (ADCs) to tackle high unmet needs, including cancer. Founded in 2024 by Jack Elands, Pontifax Venture Capital, Xavier Preville, and Carsten Dehning, it is led by an experienced team and backed by top experts in ADC development.