Second attempt: ADC Therapeutics starts IPO process

ADC Therapeutics SA is a late clinical-stage oncology-focused biotechnology company pioneering the development and commercialization of highly potent and targeted antibody drug conjugates (ADCs) for patients suffering from hematological malignancies and solid tumors.The company has filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of its common shares. The number of shares to be offered and the price range for the proposed offering have not yet been determined. ADC Therapeutics intends to list its common shares on the New York Stock Exchange under the ticker symbol “ADCT.”

ADC had already launched a first attempt to go public last September. In October the company announced that it has withdrawn its registration statement due to adverse market conditions. In the meantime the company had presented new data from Phase II clinical studies of its lead products and announced that the first commercial launch is planned in mid-2021.

Loncastuximab tesirine (Lonca, formerly ADCT-402), the Company’s lead product candidate, has been evaluated in a 145-patient pivotal Phase 2 clinical trial for the treatment of relapsed or refractory diffuse large B-cell lymphoma (DLBCL) that showed a 45.5% interim overall response rate (ORR), which exceeded the target primary endpoint. Camidanlumab tesirine (Cami, formerly ADCT-301), the Company’s second lead product candidate, is being evaluated in a 100-patient pivotal Phase 2 clinical trial for the treatment of relapsed or refractory Hodgkin lymphoma (HL) after having shown an 86.5% ORR in HL patients in a Phase 1 clinical trial.

In addition, the company has hired a new CFO recently. Jennifer Creel most recently served as Franchise Chief Financial Officer and Corporate Vice President, Global Finance & Business Planning at Celgene until its acquisition by Bristol Myers Squibb. ADC Therapeutics was founded in 2011, and has raised $558 million since that time. The company is based in Lausanne (Biopôle), Switzerland and has operations in London, the San Francisco Bay Area and New Jersey.