Adcendo ApS Completes $75 Million Series C Financing to Continue Advancing First- and Best-in-class Clinical ADC Pipeline

• Oversubscribed financing led by Jeito Capital, including additional new investment from Vida Ventures, BPI France, and EIFO, with participation from all existing investors
• Proceeds to support the advancement of three first- and best-in-class ADC programs through upcoming clinical milestones

COPENHAGEN, Denmark, April 14, 2026 /PRNewswire/ -- Adcendo, a biotech company focused on the development of first-and best-in-class antibody-drug conjugates (ADCs) for the treatment of cancers with high unmet medical need, today announced the successful closing of an oversubscribed $75 million Series C financing round. Proceeds from the fundraise will be used to support Adcendo through multiple upcoming key clinical milestones from the Company's first- and best-in-class ADC pipeline, including the ADCE-T02 (Tissue Factor ADC) Phase I Tiffany-01 Cohort expansion study in multiple high unmet need tumor indications, the ADCE-D01 (uPARAP) ADCElerate1 dose escalation and expansion study in soft tissue sarcoma and other cancers of mesenchymal origin, and the ADCE-B05 (undisclosed target) dose escalation study in squamous cell carcinomas.

The financing round was led by Jeito Capital, with participation from additional new investors Vida Ventures, BPI France, and EIFO (Export and Investment Fund of Denmark), as well as all existing investors, including TCGX, RA Capital Management, TPG, Orbimed, Venrock, Surveyor, Logos Capital, Novo Holdings, Pontifax Venture Capital, Dawn Biopharma, a platform controlled by KKR, HealthCap, Gilde Healthcare and Ysios Capital.

"This successful financing round, led by a distinguished group of life science investors, empowers us to continue advancing our pipeline of breakthrough ADCs for the treatment of underserved cancers," said Michael Pehl, Chief Executive Officer of Adcendo. "We are thrilled to see continued momentum of our first and best-in-class ADCs in clinic, and with the backing of this fundraising we will continue to progress ADCE-T02, ADCE-D01 and ADCE-B05 through upcoming data readouts."

Ksenija Pavletic, General Partner & Chief Commercial Officer at Jeito Capital, commented: "Adcendo stands out in the ADC field as having a noteworthy combination of bold innovation and strong clinical development strategy and execution. With a seasoned team of drug developers and biopharma leaders advancing their differentiated pipeline, we are excited to see the Company's progress toward their mission of delivering next-generation cancer therapies to patients who need them most."

As part of the financing, Adcendo will add Ksenija Pavletic (Jeito Capital) and Rajul Jain (Vida Ventures) to its Board of Directors.

About Adcendo ApS:

Adcendo ApS is a clinical-stage biotechnology company headquartered in Copenhagen, Denmark, with operations in Boston, Massachusetts. The company is developing a pipeline of first- and potential best-in-class antibody-drug conjugates (ADCs) targeting cancers with high unmet medical needs. Led by a team of experienced biopharma executives with a track record of advancing multiple ADCs to approval, Adcendo integrates novel targets, optimized linker-payload combinations, and a rationally designed development strategy to drive next-generation cancer therapies. Adcendo is currently advancing three ADCs: 1) ADCE-T02 targeting Tissue Factor, which is overexpressed in a broad range of solid tumors, including head and neck squamous cell carcinoma, pancreatic ductal adenocarcinoma, colorectal cancer and non-small cell lung cancer; 2) ADCE-D01 targeting uPARAP, which is overexpressed in high unmet need cancers, including soft tissue sarcoma and other cancers of mesenchymal origin; and 3) ADCE-B05, for which the target is undisclosed, is currently being evaluated pre-clinically in squamous cell solid tumors. For further information, please visit https://adcendo.com or follow us on LinkedIn.

About Jeito Capital:

Jeito Capital is a global leading Private Equity fund with a patient benefit driven approach that finances and accelerates the development and growth of ground-breaking medical innovation. With €1.6bn in assets under management, Jeito Capital empowers and supports managers through its expert, integrated, multi-talented team and through the investment of significant capital to ensure the growth of companies, building market leaders in their respective therapeutic areas with accelerated patients' access globally, especially in Europe and the United States. Jeito Capital has built a diversified portfolio of clinical Biopharmas with cutting-edge innovations addressing high unmet needs. Jeito Capital is based in Paris with a presence in Europe and the United States.

For more information, please visit www.jeito.life or follow us on LinkedIn.

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