ADC Therapeutics raises $105M

12:39 EDT 18 Oct 2016 | BioCentury

Oncology company ADC Therapeutics S.a.r.l. (Lausanne, Switzerland) raised $105 million in an oversubscribed round from existing investors Auven Therapeutics Management LLLP (St. Thomas, Virgin Islands), the Wild Family Office and AstraZeneca plc (LSE:AZN; NYSE:AZN). Undisclosed new investors also participated.

ADC Therapeutics is developing antibody-drug conjugates (ADCs) to treat hematological cancers and solid tumors. Candidates ADCT-301 and ADCT-402 are in multiple trials to treat lymphoma and leukemia subtypes. Both candidates include a pyrrolobenzodiazepine (PBD) dimer toxin and a human mAb. ADC-301 includes HuMax-TAC, which is a mAb targeting CD25, while ADCT-402 targets CD19.

The company expects to begin clinical testing by early 2017 of two more candidates to treat solid tumors and said it plans to have six programs in clinical development within 18 months. CEO Chris Martin declined to give timelines for data readouts, but said he expects the funds to last two to three years.

Last year, ADC Therapeutics raised $80 million in a private round. It is partnered with AstraZeneca's MedImmune LLC unit to co-develop two of ADC's cancer programs (see BioCentury Extra, Sept. 2, 2015).

Original Article: ADC Therapeutics raises $105M


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