Auven's ADC Therapeutics receives $40m funding round

The two investors entered a collaboration agreement that sees MedImmune take a majority stake in ADC. The investment is subject to certain pre-agreed milestones.

ADC aims to develop multiple proprietary products in clinical development in the next two years while achieving clinical proof-of-concept by 2017.

Auven initially backed ADC with a $50m financing round in 2012. The capital was used to launch the firm and support ADC's pre-clinical trials.

Company
ADC develops oncology drugs, with a focus on proprietary antibody drug conjugates (ADC) for breast, lung, prostate, renal and blood cancer.

The firm was founded in 2011 and launched in 2012 with the financial support of Auven. It is based in Lausanne.

People
Michael Forer is CEO of ADC and managing director of Auven. Bahija Jallal is executive vice president of MedImmune and will join the board of ADC.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• DACH
• Healthcare
• Early-stage
• Switzerland