Thursday, April 29, 2021

Adcentryx Therapeutics Nabs $50M In Funding

San Diego- and Shanghai-based Adcentryx Therapeutics, a biotechnology company focused on antibody drug conjugate (ADC) therapeutic development, says it has raised $50M in its Series A funding round. The funding was led by CBC Group, and also included Zoo Capital the venture arm of Boyu Capital. Adcentryx Therapeutics was founded by CEO Dr. Hui Li. Li was previously CEO of Levena Biopharma, which was a subsidiary of San Diego's Sorrento Therapeutics. The company's other founders are Dr. Pia Challita-Eid, head of research at Adcentrx (previously at Agensys), and Dr. Alexander Chu-Kung, head of development at Adcentrx (formerly a principal engineer at AbbVie).

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