Eyeing an IPO, ADC Therapeutics fuels pivotal cancer trials with a $200M mega-round backed by AstraZeneca
Just days after Gilead and its new subsidiary Kite won a groundbreaking FDA approval for their CAR-T therapy Yescarta for B-cell lymphomas, Lausanne, Switzerland-based ADC Therapeutics is rolling out a jaw-dropping $200 million mega-round to gamble — in part — on a next-gen antibody-drug conjugate that the backers feel can compete just fine with the personalized cell therapy.
The latest round brings ADC’s total venture take to $455 million, positioning them for a pair of Phase II studies that potentially could put them in line for an accelerated approval — particularly if they come close to matching the original proof-of-concept data that was posted last June.
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