Danish biotech Adcendo is developing a new class of precision cancer medicines with its technology rooted in Danish research. EIFO has invested approximately DKK 32 million in the company’s Series C round totalling $75 million, joining an elite consortium of leading European life science investors.
Company: Adcendo
Technology: Antibody-drug conjugates (ADCs) – linking a toxic payload directly to an antibody so it homes in on cancer cells while sparing healthy tissue
Indications: Head and neck squamous cell carcinoma, pancreatic ductal adenocarcinoma, colorectal cancer, and non-small cell lung cancer
Adcendo targets some of the hardest-to-treat cancers, where survival rates are low and patients have few options. Its lead programmes are already in clinical trials. The investment case rests on three pillars: a management team with specialist depth across oncology drug development, clinical operations, and ADC manufacturing; an innovative pipeline advancing multiple programmes in parallel across different indications; and a top-tier co-investor syndicate – led by Jeito Capital, with Novo Holdings, OrbiMed, Gilde Healthcare, RA Capital, Venrock, HealthCap, Vida Ventures, and Bpifrance – that unlocks the follow-on capital and partnerships that clinical-stage biotech requires.
Adcendo has deep Danish roots. Its technology originated at the University of Copenhagen, was developed through the BioInnovation Institute, and its headquarters, research operations, and core expertise remain in Denmark.
Adcendo has an exceptional pipeline of best- and first-in-class ADCs, led by a management team with the depth of expertise required to deliver on a bold clinical development strategy. Participating in this round alongside a world-class syndicate reinforces EIFO’s position as a committed growth investor in top-tier biotech companies and supports Denmark’s position as a key European hub for biotech.
As a long-term, patient investor, EIFO can commit capital over a longer horizon, share risk with the company, and play an active role in anchoring Adcendo in Denmark and Europe. That profile is a real differentiator in a syndicate like this – and a key reason Adcendo wanted EIFO at the table.
Type: Equity investment
EIFO Investment: Approx. DKK 32m
Runde: Series C