ADC Therapeutics gathers $76m in series-E extension

A consortium led by Auven Therapeutics initially raised $200m for the company's series-E in October 2017. Hedge fund Red Mile, the Wild Family Office and specialist biopharmaceutical investor Astra Zeneca took part in the financing.

Since its foundation, the company has raised $531m.

The capital will be used to fund preparations to make an application for a potential biologics licence for one of the company's drugs in late 2020 and preparations for a phase-II trial of another of the drugs.

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

Both investors returned in 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 2016.

Company
Founded in 2012, ADC develops drugs for the treatment of haematological cancer and solid tumours. The company is based in Lausanne with R&D operations in London, clinical operations in New Jersey, and chemistry, manufacturing and controls operations in San Francisco. The company employs more than 80 people.

People
ADC Therapeutics – Chris Martin (CEO).

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