Auven leads $200m round for ADC Therapeutics

Hedge fund Red Mile, the Wild Family Office and specialist biopharmaceutical investor Astra Zeneca have also taken part in the financing.

The fresh capital will be used to progress two clinical-stage drugs into planned registrational trials in 2018. ADC will also advance other programs and expects to have a total of eight in clinical development within 18 months.

Previous funding
ADC has now raised a total of $475m over five rounds, according to unquote" data.

Auven (then Celtic Therapeutics) launched the company with $50m of capital in March 2012. It then backed its first external raise in October 2013 alongside Medimmune to provide ADC with $40m.

Both investors returned in September 2015 and took part in an $80m round with a consortium of European and US investors including Astra Zeneca.

Finally, all previous backers supported another $105m funding round in October 2016.

Company
Founded in 2012 by its largest shareholder Auven Therapeutics, ADC is an oncology drug development company that specialises in the development of proprietary antibody drug conjugates (ADCs) targeting major types of hematological malignancies and solid tumors. The company has four active clinical trials in the US and in Europe. It is based in Lausanne and has operations in London, San Francisco and New Jersey.

People
ADC Therapeutics – Chris Martin (CEO).

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