Wednesday, June 12, 2019 @ 12:00 am
ADC Therapeutics, an oncology drug discovery and development company that specializes in the development of antibody drug conjugates (ADCs), today announced that it has closed a $76 million expansion of its Series E financing, bringing the total gross proceeds raised in the Series E financing to $276 million. The financing was supported by existing and new investors. The company has raised $531 million since its inception in 2011 to advance the development of pyrrolobenzodiazepine (PBD)-based ADCs for the treatment of hematological cancer and solid tumors.
Chris Martin, PhD, Chief Executive Officer of ADC Therapeutics, said, "We are delighted to expand our Series E round, which provides us with a strong balance sheet to fund preparations for a potential Biologic License Application (BLA) for ADCT-402 (loncastuximab tesirine) in relapsed or refractory diffuse large B-cell lymphoma (DLBCL) in the second half of 2020, as well as preparations for a pivotal Phase II trial of ADCT-301 (camidanlumab tesirine) in Hodgkin lymphoma based on our recent end of Phase I meeting with the U.S. Food and Drug Administration. We look forward to our presentations on ADCT-402 and ADCT-301 at the upcoming 15th International Conference on Malignant Lymphoma (15-ICML) in Lugano, Switzerland, for which we announced details in a separate press release today."
ADC Therapeutics plans to complete enrollment in its pivotal Phase II trial of ADCT-402 in patients with relapsed or refractory DLBCL imminently and report interim results in the third quarter of 2019. ADCT-402 is also being evaluated in a Phase Ib trial in combination with ibrutinib in patients with relapsed or refractory DLBCL or mantle cell lymphoma (MCL) and a Phase Ib trial in combination with durvalumab in patients with relapsed or refractory DLBCL, MCL or follicular lymphoma. In addition, the company plans to commence a pivotal Phase II trial of ADCT-301 in patients with relapsed or refractory Hodgkin lymphoma in the coming months. ADCT-301, with its novel mechanism of action targeting regulatory T cells, is also being evaluated in a Phase Ib trial in patients with selected advanced solid tumors.