ADC Therapeutics, an oncology drug discovery and development company headquartered in Lausanne, today announced that it has raised $80 million through a private placement of equity. New investors include leading European and US-based investors alongside founding investor Auven Therapeutics and participation from AstraZeneca.
ADC Therapeutics (ADCT) specializes in the development of proprietary Antibody Drug Conjugates (ADCs) targeting major cancers. The proceeds will be used to progress ADCT’s product portfolio, including ADCT-301 for lymphoma and leukemia now in Phase I and a collaboration to develop up to two ADCs for commercialisation with MedImmune, the global biologics research and development arm of AstraZeneca.
ADCT’s ADCs are highly targeted drug constructs which combine monoclonal antibodies specific to surface antigens on particular tumor cells with highly potent pyrrolobenzodiazepine (PBD)-based warheads. ADCT anticipates having seven drug candidates in human clinical trials in 2017.
ADCT was established in 2012 by private equity firm Auven Therapeutics. In 2013, AstraZeneca/MedImmune acquired an equity stake in the Company and entered into a collaboration for two ADC programs.
The Company has built and will be expanding its highly experienced R&D team in the UK, as well as legal, finance and EU clinical teams in Switzerland, and regulatory, clinical and manufacturing teams in the US. ADCT works closely with a number of specialist partners in Europe and the US for regulatory, clinical trial management and manufacturing activities.
About ADC Therapeutics
ADC Therapeutics Sarl (ADCT) is an oncology drug development company that specializes in the development of proprietary Antibody Drug Conjugates (ADCs) targeting major solid and hematological cancers. The Company’s ADCs are highly targeted drug constructs which combine monoclonal antibodies specific to surface antigens on particular tumor cells with a novel class of highly potent pyrrolobenzodiazepine (PBD)-based warheads. The Company has access to warhead and linker chemistries via agreements with Spirogen (a wholly-owned subsidiary of AstraZeneca’s MedImmune). It is progressing eleven ADC programs, two of these under a joint development agreement with MedImmune. Its lead program, ADCT-301 for lymphoma entered Phase I in mid 2015.
ADCT was established in 2012 by private equity firm Auven Therapeutics. In 2013, AstraZeneca acquired an equity stake in the Company and entered into a corporate partnership for two ADC programs. It is located in Lausanne, Switzerland, and utilizes laboratory facilities at Queen Mary Bioenterprises Innovation Centre, London, UK. ADCT has manufacturing and clinical studies managed from its US offices in San Francisco and New Jersey.
Please login or sign up to comment.
Commenting guidelines