$80m Windfall Will Push 7 ADC Drug Candidates Into Clinic Within Two Years
This article was originally published in Scrip
By generating $80m through its latest equity placement, oncology drug development company ADC Therapeutics (ADCT) says it is now well-funded to advance its portfolio of linked tumor-targeted antibody drug conjugates (ADCs) and plans to have seven drug candidates in human clinical trials by-mid 2017, two of which are partnered with AstraZeneca PLC's biologic's division MedImmune LLC.
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The company extended its series E financing to $276m to keep its two lead ADC candidates moving toward pivotal data and BLA filings, including a planned filing for ADCT-402 late next year. The funding news comes as the ADC field moves into the spotlight.
A second round of funding in just over a year is expected to allow the Lausanne, Switzerland-based company to reach the start of pivotal studies for its novel antibody-drug conjugates.
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