ADC Therapeutics brings in $200 million of financing
pharmafile | October 24, 2017 | News story | Manufacturing and Production, Sales and Marketing | ADC Therapeutics, AstraZeneca, biotech, drugs, pharma, pharmaceutical
ADC Therapeutics has won some serious financial support after its latest financing round managed to net the company $200 million. Amongst its wealthy backers was AstraZeneca, which is clearly keeping an eye on the Swiss company’s antibody-drug conjugate program.
The biotech is planning on using the huge round of financing to boost its efforts through the clinic, including pushing two therapeutic candidates, ADCT-301 and ADCT-402, into Phase 2 trials.
Beyond these two candidates, the money will also be spent advancing ADCT-502 through Phase 1 trials, as well as funding the overall development of eight candidates, including those previously mentioned, in clinical trials.
Antibody drug conjugates work by specifically targeting major types of haematological malignancies and solid tumours, mitigating the usually toxic impact of most cancer treatments.
In trial data published so far, Phase 1 results showed that its lead candidate, ADCT-402, posted results showing a 57% overall response rate and a 43% complete response rates in patients with diffuse large B-cell 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 Haematology, 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 haematological and solid tumour indications both on our own and in partnerships.”
Depending on how well these candidates progress, it could be a case of history repeating itself; Chris Martin previously led Spirogen, a company that specialised in treatments for cancer that was bought out by AstraZeneca for $440 million back in October 2013.
Ben Hargreaves
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