Adcentrx Therapeutics Expands A+ Financing to $51 Million to Advance ADC Pipeline

Shanghai and San Diego, California, December 6, 2023 – Adcentrx Therapeutics (“Adcentrx”), a biotechnology company focused on developing breakthrough protein-conjugated drug (ADC) therapies for cancer and other serious diseases, today announced an expansion of its Series A+ financing round. The additional $13 million is in addition to the $38 million Series A+ financing round completed in April 2023. Expansion of Series A+ Financing Round

“We are pleased to announce the expansion of our Series A+ financing round,”Dr. Li Hui, Founder and CEO of Adcentrxstated, “With the support of new investors, we are better positioned to accelerate the clinical development of our lead candidate, ADRX-0706, and advance other drug candidates into clinical development. This enables us to continue our commitment to creating differentiated therapeutic solutions to address cancer and other life-threatening diseases.”

Lighthouse Capital Partners served as the exclusive financial advisor to Adcentrx. The additional investment will be used by Adcentrx to continue advancing its proprietary ADC pipeline into clinical trials.

Hong Lei, Executive Director of Lighthouse Capital Partnersstated: “Adcentrx’s ability to secure consecutive investments from top-tier global funds within a short period fully demonstrates the capital market’s recognition of the company’s team and its globally leading technology platform. We are honored to collaborate with such a first-class team, which boasts extensive pharmaceutical experience and exceptional execution capabilities. In less than a year, we have witnessed Adcentrx complete two rounds of financing totaling over $50 million, while its lead pipeline advanced from pre-IND status to Phase I clinical trials in the United States. We look forward to continuing to witness Adcentrx’s progress as it drives industry development and makes significant contributions to human health.”

ADRX-0706 is an antibody-drug conjugate (ADC) candidate developed by Adcentrx Therapeutics. The antibody component of this product targets Nectin-4, a cell surface adhesion protein overexpressed in various human cancers and associated with poor prognosis. ADRX-0706 utilizes the company’s newly developed i-Conjugation™ technology and incorporates AP052, a novel microtubule inhibitor, as the cytotoxic payload, resulting in a drug-to-antibody ratio (DAR) of 8. In preclinical models, ADRX-0706 demonstrated favorable pharmacokinetic and safety profiles, along with significant efficacy across multiple tumor indications. ADRX-0706 is currently being evaluated in Phase 1a/b clinical trials.

Adcentrx is a biotechnology company focused on developing breakthrough protein-conjugate therapies for cancer and other serious diseases. By pioneering the optimization of key components in protein-conjugate drug design, Adcentrx has developed a comprehensive ADC technology toolkit that effectively addresses the common challenges encountered in ADC drug development. Meanwhile, Adcentrx is building a product pipeline that includes potential first-in-class and best-in-class candidates.

Quan Capital is a venture capital fund focused on the early and growth stages of the life sciences sector. Driven by innovation and guided by unique scientific and commercial insights, we identify, build, and invest in leading life sciences companies with high-growth potential on a global scale. Our portfolio includes companies developing cutting-edge innovative therapies, advanced technology platforms, and industry leaders that fill critical gaps in the ecosystem.

Quan Capital currently maintains offices in Shanghai and Palo Alto. Leveraging our extensive industry experience and deep-rooted resources, our professional investment team identifies and incubates the next generation of outstanding companies. We are committed to providing robust support for the strategic, operational, and developmental needs of emerging pharmaceutical and technology enterprises, assisting companies at various stages of growth with their transformations on a global scale, and helping them maximize their value.

Partners Investment is a venture capital firm headquartered in Seoul, founded in 2000, that invests in breakthrough technologies in the global healthcare and therapeutic sectors. The firm has cumulative assets under management of $1 billion and currently manages over 50 portfolio companies across the United States, China, Europe, and South Korea. Partners Investment is built on the belief that the need to improve health is always paramount, and that investing in healthcare innovation will benefit patients with unmet medical needs.