Immunotherapy startup Adecto shuts down, citing risk-averse funding climate

Adecto Pharmaceuticals, a Boston-based immunotherapy biotech founded in 2014 by Tufts researchers, announced it is closing after 12 years.

The company had been developing AD100, a monoclonal antibody targeting the ADAM8 protein, aiming to reprogram immune cells and boost antitumor responses.

Co-founder and chief scientific officer Nora Mineva, who became CEO in 2023, said the firm ran out of financial runway because investors were reluctant to fund novel targets lacking clinical data.

Mineva expressed continued belief that ADAM8-directed therapies could succeed in the future despite the shutdown.