Spain’s Adaptam Therapeutics secures €3 million to target immune cells that help tumours evade treatment

Adaptam Therapeutics, a San Sebastian-based company pioneering cancer immunotherapies specifically targeting immunosuppressive myeloid cells, today announces the successful completion of a €3 million pre-Seed financing round

The round was led by Criteria Bio Ventures and will enable Adaptam to further develop its programmes and enter the preclinical phase in multiple oncology indications. As part of the round, Salvatore Cappadona, PhD, and Pablo Cironi, PhD, both from Criteria Bio Ventures, joined the board of directors.

“Immunosuppressive myeloid cells within tumors present one of the toughest challenges in immunotherapy today. Our goal is to neutralise this obstacle by developing therapies that specifically target these cells, offering patients new hope where traditional approaches have failed,” said Asis Palazon, PhD, founder, CEO and CSO of Adaptam.

This newly announced pre-Seed round for Adaptam places it alongside other 2025 European immuno-oncology ventures that have recently secured capital. Notably, this Spanish BioTech is addressing immunosuppressive myeloid cells in the tumour microenvironment – a more specific target compared with some of the broader tumour-targeted therapies funded elsewhere.

In France, Exeliom Biosciences raised €2.85 million to accelerate its immunotherapy programmes for cancer. From Sweden, Lithea AB secured €851k to advance a tumour-targeted therapy for childhood bone cancer. Meanwhile, Trogenix in the United Kingdom closed an €80 million Series A to accelerate the development of curative cancer treatments.

While these rounds differ significantly in scale and clinical maturity, they collectively indicate sustained investor confidence in European oncology innovation. Adaptam’s pre-clinical focus on glyco-immune checkpoint modulation adds a distinctive Spanish contribution to this broader regional momentum in cancer immunotherapy.

“The support from Criteria Bio Ventures enables us to take a step forward in achieving our mission. We are now actively planning our next funding round to support IND-enabling studies,” added Palazon.

Founded in 2023, Adaptam is a BioTech spin-off from CIC bioGUNE developing first-in-class antibody therapies for solid tumours.

Adaptam originated from research conducted by Prof. Asis Palazon and his team at CIC bioGUNE in Bilbao, Spain, with expert insights from Criteria Bio Ventures on the ideation, corporate strategy and operational setup of the company.

The company specifically targets the immunosuppressive myeloid tumor microenvironment through unexplored glyco-immune checkpoints, which are expressed in immunosuppressive myeloid cells such as tumor-associated macrophages (TAMs).

Adaptam is advancing antibody-drug conjugates (ADCs) and bispecific antibodies as part of its differentiated pipeline. The company, backed by Criteria Bio Ventures and ERC funding, is committed to delivering new treatment options in immuno-oncology.

“We are thrilled to support Adaptam in its mission to transform cancer treatment by targeting the immunosuppressive cells within the TME. The scientific breakthroughs achieved by Prof. Asis Palazon and his team have laid the groundwork for potentially life-changing therapies,” said Pablo Cironi, PhD, chairman of the Adaptam board. “With this strong foundation, we believe Adaptam is well-positioned to deliver new, effective treatments for patients with solid tumors, addressing critical gaps in current immunotherapy options.”

Immunotherapy has transformed cancer treatment, offering new solutions to patients worldwide. However, the company says a significant number still fail to respond to these therapies or develop resistance over time.

This lack of efficacy is reprotedly due to the immunosuppressive nature of the tumour microenvironment (TME), which hampers the immune system’s ability to effectively target and destroy cancer cells. Among the main contributors to this immunosuppression are myeloid cells, particularly TAMs, which play a crucial role in inhibiting T-cell responses.

This challenge is particularly pronounced in patients with solid tumors, where these myeloid cells create an environment that prevents immune cells from mounting an effective anti-tumoral response.

“Adaptam’s differentiated approach at the intersection of myeloid-mediated immunosuppression and glycobiology represents a one-of-a-kind vision uniquely positioned to unlock the next frontier in cancer immunotherapy. We are proud to have partnered with Asis Palazon to build this exciting new venture and support its next phase of development.

“We are confident that Adaptam’s emerging pipeline offers a game-changing opportunity to transform cancer treatment for many patients,” said Salvatore Cappadona, PhD, board member of Adaptam.

Some of the core structural and mechanistic discoveries of immune-modulating glycan-binding proteins and their interactions with immune cells were previously published in Nature Communications.

“CIC bioGUNE’s long-standing leadership in glycobiology provided the scientific foundation for Adaptam and we have supported the company from its earliest steps through to today’s preclinical maturation,” said Prof. Jesús Jiménez-Barbero, scientific director of CIC bioGUNE.

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