Celtic Therapeutics sets up $50 million Swiss ADC company

USA-based private equity firm Celtic Therapeutics Management has announced a significant commitment to antibody-drug-conjugate (ADC) products, with the launch of a new Switzerland-based company, ADC Therapeutics Sarl.

The new firm has been formed with a pipeline of 10 proprietary ADC oncology development programs, targeting multiple major cancers, including prostate, renal, breast, lung and blood cancers and an initial budget of $50million.

ADCs are fast becoming the most exciting new class of oncology drugs, as they combine the specificity of antibodies with the cytotoxic power of novel “warhead” chemistries, says Celtic. ADCs thus have the prospect of being highly potent and target selective, with fewer side effects, and to potentially minimize drug resistance.