Date: 2015-09-02
Type of information: Private placement
Company: ADC Therapeutics (Switzerland)
Investors: Auven Therapeutics (Switzerland) AstraZeneca (UK) undisclosed leading European and US-based investors
Amount: $80 million (€70.8 milion)
Funding type: private placement
Planned used: ADC Therapeutics is an oncology drug discovery and development company that specializes in the development of proprietary Antibody Drug Conjugates (ADCs) targeting major solid and hematological 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.
Others: * On September 2, 2015, ADC Therapeutics, an oncology drug discovery and development company that specializes in the development of proprietary Antibody Drug Conjugates (ADCs) targeting major cancers, 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. 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 was advised by Dr. Christoph Ladanyi, co-founder and Managing Director of BLMS Capital, and its corporate legal counsel Homburger.
Therapeutic area: Cancer - Oncology
