Go­ing to Chi­na? ADC Ther­a­peu­tics spot­lights a new way to do it with Hill­house-backed Over­land

Chris Mar­tin and his crew at ADC Ther­a­peu­tics went in­to the JP Mor­gan Health­care con­fer­ence this Jan­u­ary armed with pos­i­tive piv­otal da­ta for its lead an­ti­body-drug con­ju­gate, lon­cas­tux­imab tesirine. Hav­ing fo­cused its de­vel­op­ment pro­gram ex­clu­sive­ly in the US and Eu­rope, it was time to find a Chi­nese part­ner.

The search, which stretched out over the next few months, cul­mi­nat­ed in six term sheets, from large phar­ma, on­col­o­gy spe­cial­ists and all. But one bid­der stood out: Over­land Phar­ma, the fledg­ling plat­form play co-found­ed by ven­ture part­ners at Hill­house Cap­i­tal, a mar­quee VC firm Mar­tin has come to re­spect.

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