Spirogen spinoff ADC will put the proceeds into advancing its cancer-fighting antibody drug conjugates, having raised more than $530m from backers including AstraZeneca.
Switzerland-based cancer therapy developer ADC Therapeutics has filed for a $150m initial public offering on the New York Stock Exchange that would enable pharmaceutical company AstraZeneca to exit.
Spun off from AstraZeneca subsidiary Spirogen in 2011, ADC is developing antibody drug conjugates that will target haematological malignancies and solid tumours.
The IPO proceeds will support the advance of ADC’s lead product candidate, ADCT-402, through a phase 2 clinical trial for relapsed or refractory diffuse large B-cell lymphoma as well…
