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Financing › Details
ADC Therapeutics–Deerfield: credit, 202005– convertible credit facility $115m in two conditionable disbursements of $65m + $50m
Period | 2020-05-01 � 2022-08-22 | |
Successor | ADC Therapeutics–Deerfield: investment, 202208– conversion of $115m convertible credit facility into equity | |
Money taker | ADC Therapeutics S.A. (NYSE: ADCT) | |
Group | ADC Therapeutics (Group) | |
Money source | Deerfield Management Company L.P. | |
Group | Deerfield (Group) | |
Product | investment banking | |
Product 2 | loncastuximab tesirine-lpyl (ADCT-402) | |
Index term | ADC Therapeutics–SEVERAL: investment, 201909–201910 IPO up to approx $230m at NYSE WITHDRAWN 10/19 | |
ADC Therapeutics S.A.. (5/1/20). "Press Release: ADC Therapeutics Announces a $115 Million Convertible Credit Facility with Deerfield". Lausanne.
ADC Therapeutics SA, a late clinical-stage oncology-focused biotechnology company pioneering the development and commercialization of highly potent antibody drug conjugates (ADCs) for patients suffering from hematological malignancies and solid tumors, today announced that it entered into a $115 million Convertible Credit Facility (the “Convertible Credit Facility”) with funds affiliated with Deerfield Management Company, L.P. (collectively, “Deerfield”).
Chris Martin, Chief Executive Officer of ADC Therapeutics, said, “We are delighted to add Deerfield as one of our long-term financial partners as we prepare for the submission of a Biologics License Application for Lonca to the U.S. Food and Drug Administration. To that end, we are continuing to build out our commercial organization for the launch of Lonca, if approved, in mid-2021 while advancing our diversified pipeline of novel ADCs for patients with hematological cancers and solid tumors.”
Under the Convertible Credit Facility, Deerfield agreed to extend senior secured convertible term loans (the “convertible loans”) to the Company in two separate disbursements, each subject to satisfaction of certain conditions. Deerfield agreed to extend (i) an initial disbursement of convertible loans to the Company in the amount of $65.0 million upon completion of an initial public offering by the Company and satisfaction of certain other conditions and (ii) a subsequent disbursement of convertible loans to the Company in the amount of $50.0 million upon receipt of regulatory approval for Lonca and satisfaction of certain other conditions.
ADC Therapeutics Contacts
Investors Contact
Amanda Hamilton
ADC Therapeutics
amanda.hamilton@adctherapeutics.com
Tel.: +1 917 288 7023
EU Media Contact
Alexandre Müller
Dynamics Group
amu@dynamicsgroup.ch
Tel: +41 (0) 43 268 3231
USA Media Contact
Annie Starr
6 Degrees
astarr@6degreespr.com
Tel.: +1 973-415-8838
Record changed: 2024-01-09 |
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More documents for ADC Therapeutics (Group)
- [1] ADC Therapeutics S.A.. (7/20/23). "Press Release: ADC Therapeutics Announces Plan to Discontinue the Phase 2 LOTIS-9 Clinical Trial of Zynlonta (loncastuximab tesirine-lpyl) and Rituximab in Unfit or Frail Previously Untreated DLBCL Patients". Lausanne....
- [2] ADC Therapeutics S.A.. (1/4/23). "Press Release: ADC Therapeutics to Participate in the 41st Annual J.P. Morgan Healthcare Conference". Lausanne....
- [3] ADC Therapeutics S.A.. (12/21/22). "Press Release: ADC Therapeutics and Sobi Announce European Commission Approval of Zynlonta (loncastuximab tesirine) for the Treatment of Relapsed or Refractory Diffuse Large B-cell Lymphoma". Lausanne....
- [4] ADC Therapeutics S.A.. (12/19/22). "Press Release: ADC Therapeutics Appoints Jose Carmona as Chief Financial Officer". Lausanne....
- [5] ADC Therapeutics S.A.. (11/1/22). "Press Release: ADC Therapeutics Appoints Kristen Harrington-Smith as Chief Commercial Officer and Peter Graham as Chief Legal Officer". Lausanne....
- [6] ADC Therapeutics S.A.. (9/6/22). "Press Release: ADC Therapeutics to Participate in Morgan Stanley’s 20th Annual Global Healthcare Conference". Lausanne....
- [7] ADC Therapeutics S.A.. (8/15/22). "Press Release: ADC Therapeutics Announces $175 Million Senior Secured Term Loan from Owl Rock and Oaktree and Settlement of Existing Senior Secured Convertible Notes". Lausanne....
- [8] ADC Therapeutics S.A.. (7/8/22). "Press Release: ADC Therapeutics Announces Exclusive License Agreement with Sobi to Develop and Commercialize Zynlonta (loncastuximab tesirine-lpyl) in Europe and Select International Territories". Lausanne....
- [9] ADC Therapeutics S.A.. (7/1/22). "Press Release: ADC Therapeutics Appoints Jean-Pierre Bizzari, MD, to Board of Directors". Lausanne....
- [10] ADC Therapeutics S.A.. (6/29/22). "Press Release: ADC Therapeutics Doses First Patient in Phase 1b Clinical Trial of Zynlonta (loncastuximab tesirine-lpyl) in Combination with Other Anti-cancer Agents". Lausanne....
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