£600,000 second-round investment and grant package announced by ADC Biotechnology (ADC Bio).
Continued development and commercialization of
its new antibody drug conjugate (ADC) production technology will be
accelerated by a £600,000 second-round investment and grant package
announced by ADC Biotechnology (ADC Bio).
Based at OpTIC Technium in St. Asaph, North Wales, the business
is significantly ahead of its 2012/13 business forecast. It
recently agreed the first in an expected series of commercial
collaborations with major players in the anti-cancer drug
The second-round funding package includes a £400,000 equity and
debt funding package from Finance Wales - and £200,000 from a
consortium of previous and new private investors led by Acceleris
Ltd.. Finance Wales and Acceleris were lead funders when ADC Bio
became operational in December 2011.
The latest investment will also fund commissioning in the
current quarter of the company’s new Technical Service Lab. –
coming on stream to meet strong demand for consultancy and R&D
The company’s “Lock and Release” process technology speeds,
simplifies and lowers the cost and environmental footprint of both
developing and manufacturing the latest generation of anti-cancer
ADC Bio CEO Charlie Johnson says that the business is “very
significantly ahead” of revenues forecast when its first round
investment was announced, in December 2011.
He commented: “Growth is reflecting both an accelerating ADC
market, and recognition by drug innovators of our consultancy and
R&D capabilities for both development and scale-up phases. This
is enabling us to partner with customers at an early stage in their
“Developing and manufacturing anti-cancer drugs can be complex
and costly. ADC Bio’s technology has the potential to improve
drug production processes and offer significant cost and time
savings. We’re pleased to invest a second round in the company
as it is making significant progress in developing and
commercializing its technology.”
Developing and manufacturing anti-cancer drugs can be complex and costly. ADC Bio’s technology has the potential to improve drug production processes and offer significant cost and time savings. We’re pleased to invest a second round in the company as it is making significant progress in developing and commercializing its technology.
Dr Melanie GowardDeputy Fund Manager in Finance Wales’ technology venture investments team
Norman Molyneux of Acceleris also commented:
“Against the background of rising demand, drug delivery
improvements through innovative production technology point to
lower treatment costs and thus greater patient access to leading
edge cancer treatments. We’ve been delighted to again work with the
ADC Bio team and Finance Wales to enable this latest
In September 2012, ADC Bio announced the first in an expected
series of technical and commercial collaborations with leading
anti-cancer drug manufacturers.
The initial collaboration is with Swiss-based pharmaceutical
process development and API manufacturers CARBOGEN AMCIS AG – an
established global player in high-potency and anti-cancer drug
Access to ADC Bio’s “Lock and Release” technology will enable
major ADC-based drug developers to benefit from its advantages for
both complex drug development and scaled-up manufacturing
ADCs are an important new class of anti-cancer therapies. Acting as
carriers for chemotherapy drugs, they enter targeted cancer cells
prior to ADC degradation to release the drug payload - with
minimised impact on adjacent, healthy cells.
The first “second generation” ADC-based drug – ADCETRIS –
received commercial launch approval in Summer 2011. More than 30
are in clinical trials, with another 100 in pre-clinical
The ADC clinical pipeline currently includes treatments for
breast, ovarian, gastric and lung cancers and melanoma. The
combined annual sales and production markets for ADC drugs are
projected to top US $8bn. by 2015/16.
Cancer is the second biggest killer in many developed countries
and the anti-cancer drug segment is growing at roughly double the
pace of the overall pharma market.