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news.Celtic Therapeutics Management has launched a new antibody drug conjugates (ADC) development company, ADC Therapeutics, in Switzerland.
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ADC Therapeutics was formed with an initial budget of $50m and 10 ADC development programs.
The company’s plan will be to seek development and marketing partners after Phase II proof of concept (POC).
The objective is to achieve clinical POC in Phase II studies in several programs within three to five years.
Celtic co-founder and managing general partner Stephen Evans-Freke said the company anticipate investment of up to $50m into ADC Therapeutics to achieve clinical proof of concept in 2-3 lead oncology programs.