Top 8 Antibody-Drug Conjugate (ADC) startups

Updated: Dec 14, 2025
|
These startups develop ADC cancer therapies that combine monoclonal antibodies with cytotoxic drugs, delivering the drug directly to cancer cells thus minimizing damage to healthy tissues.
1
Adcytherix
Country: France | Funding: €135M
Adcytherix is dedicated to creating and advancing innovative antibody-drug conjugates (ADCs) that go beyond current limitations. By combining state-of-the-art payload innovation with deep ADC development expertise, the company aims to revolutionize targeted therapies for cancer and other conditions of significant unmet medical need. Most existing ADCs rely on two classes of payloads, tubulin and topoisomerase 1 inhibitors. Adcytherix is investigating novel payloads classes with mechanisms of action selected to overcome tumor resistance while enhancing safety, with the potential to manage a wider range of cancers. Adcytherix is guided by a experienced management team and is backed by a network of top-tier experts in the field of ADC development.
2
Neok Bio
Country: USA | Funding: $75M
Neok is a spin-off of Korean biotech ABL, that paired its antibody skills with linker-payload technology to build a pipeline of ADCs. Neok was started with two ADC-candidates from ABL and plans to test them and deliver the first human data in 2027. The drugs target thoracic, gastrointestinal and gynecological cancers via ROR1, EGFR and MUC1 proteins. The expression of these proteins by some healthy cells makes on-target, off-tumor toxicity a concern for drugs that engage the receptor. But, in theory, Neok's bispecific design (which is fine-tuned for each target antigen pair) could improve safety. This dual-targeting strategy has the potential to target a wider range of tumors, overcome drug resistance.
3
Lantern Pharma
Country: USA | Funding: $96M
Lantern Pharma is creating the AI ​​platform RADR for the development of oncology drugs. It's mainly used to predict the potential response of patients to drugs. RADR uses publicly available databases, commercial clinical research and trial data, proprietary company data derived from ex vivo 3D tumor transcriptome models, genomic data and drug sensitivity data from a wide range of carefully selected sources that are constantly analyzed, tracked and updated. Currently, the Lantern Pharma's portfolio includes three leading drug candidates and an ADC program for the treatment of 12 oncological diseases, including non-small cell lung cancer (NSCLC), TNBC, Bladder Cancer, Recurrent Non-Hodgkins Lymphoma, select solid tumors
4
Tubulis Technologies
Country: Germany | Funding: €508M
Tubulis produces uniquely matched antibody-drug conjugates with exceptional biophysical properties that have shown durable on-tumor delivery and long-lasting anti-tumor activity. Its P5 Conjugation Technology allows to quickly generate highly stable ADCs with chemical flexibility that provides the potential to develop truly differentiated ADCs. Leveraging this technology, the Tubutecan Platform allows stable, high DAR 8 conjugation of potent topoisomerase-I inhibitors with improved on-target delivery and decreased off-target toxicity – without compromising ADC properties. The company is developing a portfolio of ADCs that can target previously unreachable targeting molecules and carry novel payloads.
5
ADC Therapeutics
Country: Switzerland | Funding: $1B
ADC Therapeutics is focused on the creation of proprietary Antibody Drug Conjugates (ADCs) for the therapy of both solid and hematological cancers. It uses monoclonal antibodies specific to specific tumor antigens conjugated to a innovative class of highly potent pyrrolobenzodiazepine (PBD)-based warheads to specifically kill cancer cells. The company is expanding ZYNLONTA into earlier stages of DLBCL and indolent lymphomas. In addition, IND-enabling efforts are in progress for the Company’s exatecan-based, prostate-specific membrane antigen.
6
Adcendo
Country: Denmark | Funding: $249.6M
ADCendo develops antibody-drug conjugates (ADCs) for the treatment of cancers with high unmet medical needs. The company is developing two technologies: ADCE-T02, which combines an optimized monoclonal antibody targeting tissue factor (overexpressed in numerous solid tumor indications) with a next-generation linker and exatecan delivery technology, providing higher efficacy and improved tolerability. The second candidate is ADCE-D01 - a first-in-class ADC targeting uPARAP, an endocytic receptor overexpressed in a wide range of mesenchymal tumors, including soft tissue sarcomas, osteosarcoma, GISTs, mesothelioma and glioblastoma.
7
Pheon Therapeutics
Country: UK | Funding: $188M
Pheon Therapeutics is developing a portfolio of next-generation ADCs with the potential to treat difficult-to-treat solid tumors. Recognizing that there is no one-size-fits-all solution in ADC development, Pheon takes an adaptive approach to ADC development. Using monoclonal antibodies (mAbs) against both novel and clinically proven ADC targets and equipping them with either proprietary platform active substances with a novel mechanism of action or pre-existing linker combinations, Pheon precisely ensures the balance of safety and efficacy for each target. Pheon has assembled a world-class leadership team with two decades of ADC experience. The company is currently conducting Phase I clinical trials of its lead asset, which has demonstrated robust preclinical data, including in vivo efficacy, NHP safety and extensive expression profiling in tumors and healthy tissue.
8
NBE Therapeutics
Country: Switzerland | Funding: $65.7M
NBE-Therapeutics develops ADCs for the treatment of solid tumors (in particular breast and pancreatic cancers). Its platform enables to develop targeted therapies that have a long-lasting immunological effect and can shrink or even completely eradicate tumors. The company has a portfolio of ADC candidates based on proprietary linker loading and conjugation technologies, which are at various stages of pipeline. The company's technologies enable to find the optimal combination of properties for each target antigen: enzymatic conjugation with the enzyme sortase A, SMAC technology (sortase-mediated antibody conjugation), a highly potent anthracycline-based intercalating toxin that damages DNA (as a payload), novel binding agents for finding any new targets and a mammalian antibody library display system. The company is financially backed by the Boehringer Ingelheim Venture Fund.
  See also:
Jason Kwon
Editor: Jason Kwon
Jason Kwon is a senior editor for MedicalStartups. He has previously covered the pharmaceutical and medical research industries for FDAnews and worked as a head of marketing for medical startup Sonic Therapeutics. Before that, he co-founded a startup consulting business for emerging entrepreneurial hubs in Asia. Jason graduated from St. Bonaventure University’s journalism school. In his free time, Jason enjoys yoga, watching movie trailers, traveling to places where he can't get cell service. You can contact Jason at jaskwon(at)medicalstartups(dot)com