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AstraZeneca Swiss Cancer Biotech Completes $200M Funding Round

Swiss cancer antibody-drug conjugate (ADC) developer ADC Therapeutics has now announced the close of its $200M mega funding round.

The financing was oversubscribed and supported by both existing and new investors, including Auven Therapeutics, Redmile, the Wild Family Office and AstraZeneca.

The new money will allow ADC Therapeutics (ADCT) to advance two experimental drugs into clinical trials next year, which could be used to seek regulatory approval, as well as funding earlier-stage research.

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.

ADC’s 402 program targets CD19, a common target for CAR-T. Studies have shown a 57 percent overall response rate

and a 43 percent complete response rate in drug-resistant patients with diffuse large B-cell lymphomas. The ADC’s 301 had a 38 percent overall response rate in refractory Hodgkin’s lymphoma.

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 standalone 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.

ADC currently has 66 employees, which is expected to grow to 70 by the end of the year. Only 14 of the positions are in Lausanne, Switzerland, with the rest working around the world. Preclinical development is being conducted in London, UK, clinical development in New Jersey, and manufacturing in San Francisco.

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