ADC Therapeutics, a Lausanne, Switzerland-based oncology drug discovery and development company that specializes in the development of proprietary Antibody Drug Conjugates (ADCs) targeting major cancers, raised $80m in equity funding.
New investors include European and US-based investors alongside founding investor Auven Therapeutics and participation from AstraZeneca.
The company intends to use the proceeds to progress its product portfolio, including ADCT-301 for lymphoma and leukemia now in Phase I and a collaboration to develop up to two ADCs for commercialization with MedImmune, the global biologics research and development arm of AstraZeneca.
Established in 2012 by private equity firm Auven Therapeutics, 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 targeted drug constructs which combine monoclonal antibodies specific to surface antigens on particular tumor cells with a novel class of pyrrolobenzodiazepine (PBD)-based warheads.
ADCT utilizes laboratory facilities at Queen Mary Bioenterprises Innovation Centre, London, UK, and has manufacturing and clinical studies managed from its US offices in San Francisco and New Jersey.
Led by Dr. Chris Martin, CEO, the company anticipates having seven drug candidates in human clinical trials in 2017.