EQS-News
ADC Therapeutics Announces Closing of $200 Million Private Financing to Fund Two Lead Programs Through Registrational Trials
EQS Group-News: ADC Therapeutics SA / Schlagwort(e): Finanzierung
ADC Therapeutics Announces Closing of $200 Million Private Financing to Fund Two Lead Programs Through Registrational Trials |
Lausanne, Switzerland, October 23, 2017 - ADC Therapeutics (ADCT), an oncology drug discovery and development company that specializes in the development of proprietary Antibody Drug
Conjugates (ADCs) targeting major cancers, today announced that it has raised $200 million through a private placement. The financing was oversubscribed and supported by both existing and new
investors, including Auven Therapeutics, Redmile, the Wild Family Office and AstraZeneca.
The proceeds will be used to progress ADCT-301 and ADCT-402 into planned registrational trials in 2018. Both candidates are currently in four clinical studies in important sub-types of lymphoma and
leukemia. ADCT will also advance ADCT-301 into a combination study for solid tumors. Further it will allow the Company to continue the development of the Phase I study of ADCT-502 in patients with
advanced solid tumors with HER2 expression, to file INDs for ADCT-602 and ADCT-601, and to progress a pipeline of pre-clinical ADC programs. ADCT expects to have a total of eight programs in
clinical development within 18 months.
Dr. Chris Martin, CEO of ADCT, said: "With more than 250 patients dosed, and encouraging data to be presented at the upcoming congress of the American Society of Hematology, this financing is a key
step in our strategy and will enable us to accelerate our lead programs and to continue to develop our pipeline. This transaction also reflects the potential value to patients of rapidly developing
these active drugs as stand alone and combination therapies. We continue to grow our pipeline of proprietary antibody-drug conjugates in important hematological and solid tumor indications both on
our own and in partnerships."
ADCT is focused on the development of proprietary ADCs incorporating highly potent pyrrolobenzodiazepine (PBD)-based warheads. ADCT's clinical and preclinical programs target major types of both
hematological malignancies and solid tumours. Since inception in 2012, the Company has raised $455 million to advance its pipeline of proprietary ADCs. The Company has four PBD-based antibody drug
conjugates in six ongoing Phase Ia and Ib clinical trials in the USA and in Europe.
About ADC Therapeutics
Founded in 2012 by Auven Therapeutics, which remains the largest shareholder, ADC Therapeutics SA (ADCT) is an oncology drug development company that specializes in the development of proprietary
antibody drug conjugates (ADCs) targeting major types of hematological malignancies and solid tumors. The Company's ADCs are highly targeted biopharmaceutical drugs that combine monoclonal
antibodies specific to surface antigens present on particular tumor cells with a novel class of highly potent pyrrolobenzodiazepine (PBD) based warheads via a chemical linker. The Company has four
PBD-based antibody drug conjugates in six ongoing Phase Ia and Ib clinical trials in the USA and in Europe. ADCT enjoys strong relationships with world class partners, including AstraZeneca and its
global biologics research and development arm, MedImmune. The Company is based in Lausanne, Switzerland and has operations in London, San Francisco and New Jersey. (www.adctherapeutics.com)
For more information please contact:
Dr. Chris Martin
Chief Executive Officer
chris.martin@adctherapeutics.com
Tel.: +41 (0) 21 653 0200
Alexandre Müller
Dynamics Group
amu@dynamicsgroup.ch
Tel: +41 79 635 6413
Zusatzmaterial zur Meldung:
Dokument: http://n.eqs.com/c/fncls.ssp?u=RVITPQUAJN
Dokumenttitel: ADCT_Financing_23102017
Ende der Medienmitteilung
621115 23.10.2017