DRUG DEVELOPMENT ADC Therapeutics will focus on antibody-drug conjugates for cancer

Abstract

A Swiss company, ADC Therapeutics, has been formed to capitalize on the emerging field of antibody-drug conjugates. Because they contain a potent cytotoxic drug connected to a target-specific monoclonal antibody with a linker, ADCs avoid the side effects of traditional chemotherapies. The company was created by private equity firm Celtic Therapeutics Management and Spirogen, a 2001 spin-off of University College London. With initial funding of $50 million, ADC Therapeutics will have 10 programs against multiple cancers. Celtic is majority owner of both Spirogen and the new firm. “ADCs will represent a significant medical breakthrough in cancer therapy over the coming decade,” Celtic General Partner Stephen R. Evans-Freke asserts. “We are committed to fully fund ADC Therapeutics and will raise additional capital if warranted.” The buzz around ADCs increased in August 2011, with FDA approval of Seattle Genetics’ Adcetris, the first major ADC on the market. Other ADCs in late-stage development ...