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$80m Windfall Will Push 7 ADC Drug Candidates Into Clinic Within Two Years

 
• By Sten Stovall

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.

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.

The latest equity fund raising was double the size of its last and drew in new investors from Europe and the US alongside founding investor Auven Therapeutics, a private equity firm, and participation from AstraZeneca. The proceeds will be used to progress ADCT's product portfolio, including ADCT-301 which is in Phase I tests for lymphoma and leukemia

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