BRIEF—ADC Therapeutics raises $105 million

Swiss company ADC Therapeutics has announced a $105 million underwritten offering of common shares and pre-funded warrants.

The Lausanne-based firm is advancing its proprietary ADC technology in an attempt to transform the treatment paradigm for patients with hematologic malignancies and solid tumors.

Its CD19-directed ADC Zynlonta (loncastuximab tesirine-lpyl) received accelerated approval from the US Food and Drug Administration and conditional approval from the European Commission for the treatment of relapsed or refractory diffuse large B-cell lymphoma after two or more lines of systemic therapy.

Zynlonta is also in development in combination with other agents and in earlier lines of therapy. The company also has multiple other ADCs in ongoing clinical and preclinical development.