AstraZeneca has returned to back a $200m private placement for cancer drug developer ADC Therapeutics, which has now raised a total of $455m.
Switzerland-based oncology drug developer ADC Therapeutics (ADCT) secured $200m in a private placement today that included pharmaceutical firm AstraZeneca.
Private equity firm Auven Therapeutics, hedge fund Redmile and Wild Family Office also participated in the oversubscribed round, which included unnamed new investors.
Founded by Auven in 2012, ADCT is developing antibody drug conjugates that target major cancers. The company has a pipeline of treatments for haematological malignancies and solid tumours, with four candidates currently undergoing trials.
ADCT will use the…
