FinancialBuzz.com’s latest The Buzz Show: Featuring Our Corporate News Recap on “ADC Therapeutics Enters Financing Agreement with HealthCare Royalty Partners”
ADC Therapeutics SA (NYSE: ADCT) climbed 7% from its previous close in early morning trading after the company announced it had entered into a royalty purchase agreement with HealthCare Royalty Partners.
Under the terms of the financing agreement, ADC Therapeutics will receive $225 million upon closing, and is eligible to receive an additional $75 million upon the first commercial sale of ZYNLONTATM in Europe and a further $25 million upon the achievement of a near-term commercial milestone for ZYNLONTA.
ADC Therapeutics is a commercial-stage biotechnology company improving the lives of cancer patients with its next-generation, targeted antibody drug conjugates (ADCs). The Company is advancing its proprietary PBD-based ADC technology to transform the treatment paradigm for patients with hematologic malignancies and solid tumors.
For more information, please visit: ADC Therapeutics SA
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