ADC Therapeutics (NYSE:ADCT), a Swiss and US late clinical-stage oncology-focused biotechnology company, raised $267.6m through its IPO.
ADC, which is a portfolio company of New Ventures Funds, a venture fund targeting investments in companies across healthcare and life sciences, sold 14,082,475 of its common shares priced at $19.00 per share.
Funds managed by New Ventures III and New Ventures Select have invested in ADCT since 2015. In over a month, New Ventures has seen two portfolio companies complete successful public listings, the second being Royalty Pharma (NASDAQ: RPRX).
ADC Therapeutics 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’s lead candidate, Lonca, 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 surpassed the target primary endpoint. The company’s second lead product, Cami, is being evaluated in a 100-patient pivotal Phase 2 clinical trial for treatment of relapsed or refractory Hodgkin Lymphoma (HL); it displayed an 86.5% ORR in a Phase 1 clinical trial.
ADC has its head office in Epalinges, Switzerland, Research and Preclinical Development in London, UK, Clinical, Commercial and US Operations in New Providence, NJ, and Chemistry, Manufacture and Control offices in San Mateo, CA.