ADC Biotechnology has successfully secured UK £1.14 million in funding from, Downing LLP, a London-based investment management firm.
The company, founded in 2010, is developing new process technology to speed, simplify and significantly lower the production costs of the manufacturing of antibody-drug conjugates (ADCs).
The investment funds are expected to help the company bolster the company’s drive for faster penetration of the main U.S. market. The investment will also assist the development of an advanced bioconjugation method – an entirely new ADC manufacturing approach set to transform the industry, and a conceptual design for implementation of a fill-finish operation within the existing facility at Deeside (Glannau Dyfrdwy) in Flintshire close to the Wales–
… funding will in part help [ADC Biotechnology] to continue to lead further industry innovation, specifically, the investigation and validation of our upstream bioconjugation method…
The funding vehicle – Downing FOUR VCT Healthcare – was established through a partnership between BioScience Managers, the leading healthcare investment specialists, and Downing LLP to provide a new healthcare share class to Venture Capital Trust (VCT) investors.
New upstream bioconjugation approach
Earlier this year ADC Biotechnology announced that it is in the process of developing and internally validating its new upstream bioconjugation approach. The highly disruptive method, which leverages the company’s patented Lock-Release technology, would save several months of manufacturing time and up to 25% of overall manufacturing costs.
The Lock-Release technology is the only commercially available system that controls aggregation at source, is scaleable and capable of meeting GMP regulatory requirements required to produce materials for use in human clinical trials.
“We are very pleased to have been selected by Downing LLP and BioScience Managers for this investment and we look forward to putting the capital to great use in two major elements of our overall strategy for continued growth.” Charlie Johnson, CEO of ADC Biotechnology said.
“The funding will in part help us to continue to lead further industry innovation, specifically, the investigation and validation of our upstream bioconjugation method – the benefits of which we then intend to bring to the market. Moreover, the investment also provides us with more resources to implement the latest phase in our business development plan, namely, securing more contracts from the main US market in our drive to further expand our international client base and thereby to increase total revenues,” Johnson added.
“ADC Biotechnology is an incredibly innovative CDMO, helping its clients to develop a new class of drugs to combat cancer. The healthcare industry is growing globally and it will continue to grow, funded by the increasing requirements of not just Western economies but those in China, India and Japan. A key driver of the market opportunity is the increasing demands on healthcare generally, and for cures for diseases previously without effective treatment,” Richard Lewis, director at Downing LLP noted.
