Biotech startup Adcentrx announces extension of Series A+ financing to $51m
Adcentrx Therapeutics (Adcentrx), a biotechnology company dedicated to revolutionizing Antibody-Drug Conjugate (ADC) therapeutics for cancer and other life-threatening diseases, announced the extension of its Series A+ financing. The additional $13 million adds to the $38 million Series A+ round that was closed in April 2023. The Series A+ extension included participation from Quan Capital and Partners Investment.
Hui Li, Founder and CEO, Adcentrx: "We are pleased to announce the extension of our Series A+ financing round. With the backing of our new investors, we are better positioned to accelerate the clinical development of our lead program, ADRX-0706, and progression of additional pipeline programs towards the clinic. This allows us to continue our mission of creating differentiated therapeutics to address cancer and other life-threatening diseases."
Lighthouse Capital acted as Adcentrx's financial advisor. The additional proceeds will be used by Adcentrx to continue advancing its propriety ADC therapeutic pipeline in the clinic.
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