ADC Therapeutics Expands Series E Financing to $303 Million to Advance Pivotal Phase II Trial of ADCT-402

July 9,VCBeat (WeChat ID: vcbeat) learned from foreign media that,ADC Therapeutics Announces Closing of $103 Million Series E Extension Financing, Secures $27 Million in Support, Bringing Total Series E Proceeds to $303 MillionBiopharmaceutical company ADC Therapeutics announced the closing of a $103 million extension to its Series E financing round, securing an additional $27 million in support. This brings the total amount raised in the Series E round to $303 million. The funds were provided by a new U.S.-based institutional investor as well as existing investors who had previously participated in the Series E financing.

ADC Therapeutics plans to complete the registration of the pivotal Phase II clinical trial of ADCT-402 in the second half of 2019, and the trial will be conducted in patients with diffuse large B-cell lymphoma as soon as possible. ADC Therapeutics is currently evaluating the clinical efficacy of ADCT-402 in combination with ibrutinib for the treatment of diffuse large B-cell lymphoma and mantle cell lymphoma in a Phase Ib study; as well as the clinical efficacy of ADCT-402 in combination with durvalumab for the treatment of follicular lymphoma, mantle cell lymphoma, and diffuse large B-cell lymphoma.

Furthermore, ADC Therapeutics plans to initiate a pivotal Phase II trial of ADCT-301 for the treatment of Hodgkin lymphoma in the coming months. ADCT-301 features a novel mechanism of action targeting regulatory T cells and is currently undergoing a Phase Ib clinical trial in patients with selected advanced solid tumors.

Chris Martin, CEO of ADC Therapeutics, stated, “We are pleased to welcome a new blue-chip institutional investor to our shareholder base. This financing provides us with ample capital to prepare for the Biologics License Application for ADCT-402 in the treatment of diffuse large B-cell lymphoma in the second half of 2020. The FDA has agreed to the Phase II trial design for ADCT-301, and we will initiate the pivotal Phase II trial of ADCT-301 for the treatment of Hodgkin lymphoma in the coming months.”

On June 21, ADC Therapeutics presented subgroup analysis data from its Phase I trials involving 183 patients treated with ADCT-402 and 128 patients treated with ADCT-301. The data were presented at the 15th International Conference on Malignant Lymphoma, held in Lugano, Switzerland.

ADC Therapeutics found in the ADCT-402 study that the overall response rate was higher in elderly patients than in younger patients, and the median duration of response was longer in refractory patients than in relapsed patients. ADCT-402 demonstrated significant activity across multiple lymphoma cell lines and exhibited strong synergistic effects with venetoclax, bendamustine, and Gilead’s Zydelig.

John Radford, Professor of Medical Oncology at the University of Manchester, stated: “Data on ADCT-402 presented at the 15th International Conference on Malignant Lymphoma demonstrate that ADCT-402 exhibits significant antitumor activity and a manageable tolerability profile at doses greater than or equal to 120 mcg/kg in patients with relapsed or refractory diffuse large B-cell lymphoma. The responses observed in elderly patients and those with relapsed/refractory disease are particularly encouraging, as prior multiple lines of therapy have often proven ineffective in these populations.”

ADC Therapeutics SA is an oncology drug discovery and development company specializing in the development of highly potent targeted antibody-drug conjugates (ADCs) with pyrrolobenzodiazepine (PBD) warheads. The strategic focus on PBD-based ADC target selection, coupled with significant investment in early clinical development, has enabled ADC Therapeutics to build a robust pipeline of clinical and research-stage therapies for the treatment of hematologic malignancies and solid tumors. In the United States and Europe, the company has multiple PBD-based ADCs in clinical trials, ranging from first-in-human studies to Phase II trials, as well as numerous preclinical ADC candidates in development. Headquartered in Lausanne, Switzerland, ADC Therapeutics maintains operations in London, UK; the San Francisco Bay Area, US; and New Jersey, US.

(Compiled by Zhang Jing)