ADC Therapeutics signs license agreement with Five Prime

Swiss ADC Therapeutics, a portfolio company of Auven Therapeutics, and Five Prime Therapeutics (NASDAQ: FPRX) have agreed an exclusive license for human antibodies directed to an undisclosed target expressed on the surface of various types of cancers. Financial terms were not disclosed and remain confidential.

Under the agreement, ADC plans to initiate preclinical R&D of antibody-drug conjugates using the antibodies licensed from Five Prime. ADC’s platform combines monoclonal antibodies specific to particular types of tumor cells with a novel class of highly potent pyrrolobenzodiazepine (PBD)-based warheads. As ADC’s PBD-based chemistries do not distort the structure of the DNA they give the prospect of highly potent, target-selective cancer therapies with fewer side effects and the potential to pre-empt resistance issues faced by other anti-cancer products on the market.

Peter Corr, chairman of ADC Therapeutics and managing general partner of Auven Therapeutics, said: “We believe that ADCs offer a great opportunity to develop next generation oncology drugs that are more efficacious and with less side effects. The partnership with Five Prime further extends our exciting development portfolio of novel ADCs and we look forward to rapidly progressing the development plans.”