ADC Therapeutics finalises a $303M series E round

“We are delighted to welcome a new blue-chip institutional investor to our shareholder base”, said Chris Martin, CEO of ADC Therapeutics following the receipt of $25 million from a U.S. based institutional investor, which led to the completion of the series E financing round with total proceeds of $303 million.

ADC Therapeutics is specializing in the development of antibody-drug conjugates (ADCs), highly targeted biopharmaceutical drugs that combine monoclonal antibodies specific to surface antigens present on particular tumour cells with a novel class of highly potent pyrrolobenzodiazepine (PBD)-based warheads via a chemical linker. The Company has multiple PBD-based ADCs in ongoing clinical trials and numerous preclinical ADCs in development. ADC Theraputics' lead candidates include ADCT-402 and ADCT-301.

Thanks to the new funds, the company plans to complete enrollment in its pivotal Phase II trial of ADCT-402 in a broad population of patients with relapsed or refractory DLBCL imminently and report interim results in the second half of 2019. The company has also announced its undertakings for the candidates ADCT-402, as well as ADCT-301 in patients with relapsed or refractory Hodgkin lymphoma in the coming months.