ADC Therapeutics raises $105M

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. ...