ADC Therapeutics sells off royalty share for lead antibody-drug conjugate in $325M deal
ADC Therapeutics will receive $225 million in cash and an additional $100 million in near-term milestones as part of a royalty sale with HealthCare Royalty for its lead antibody-drug conjugate Zynlonta and investigational CD25 candidate camidanlumab tesirine (Cami), the companies said Thursday.
The deal snares HealthCare Royalty a 7% royalty on worldwide net sales and licensing for both drugs, which can be expanded up to 10%. The deal ends when the $325 million has been recouped between 2.25x and 2.5x, ADC said.
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