ADC investments proliferate

Germany-based BioNTech has licensed two antibody-drug conjugate (ADC) assets from the Chinese company Duality Biologics for global development and commercialization, excluding mainland China, Hong Kong, and Macau. One of the ADCs is DualityBio’s lead candidate, which targets the human epidermal growth factor receptor 2 and is currently in Phase 2 clinical trials. Separately, Adcendo has completed the extension of its series A financing, receiving a total of $89 million. The Danish firm will use the money to develop its lead ADC program for sarcoma and advance a second candidate.