Barely created, just a few months ago, and already a record seed fundraising of €30 million to develop new antibody-conjugates (ADCs) and treat pathologies with high medical needs, including cancer. Founded by the team that created Emergence Therapeutics, Adcytherix wants to take the lead in the development of ADCs.
This is why Jack Elands and Pontifax Venture Capital, as well as Xavier Preville and Carsten Dehning, the two other co-founders, chose to strike fast and hard. The first round of €10 million was led by Pontifax and supported by Pureos Bioventures, RA Capital Management and Dawn Biopharma (a platform controlled by KKR), the second round raised €20 million from other investors.
Funds to move faster
After working for many years in basic research, Jack Elands, a neuropharmacologist by training, wanted to give new impetus to his professional career. It will first be a first company, then five in total: “I came at a time when the industry was reorganizing itself for the research of new drugs, this allowed me to move towards biotechs, in short to continue to do research but also to be involved in all the management of the company..”
