ADC Bio secures additional equity round investment

ADC Biotech­nol­o­gy (ADC Bio), announces that it has secured addi­tion­al fund­ing of £2.5 mil­lion from exist­ing investors and com­pa­ny man­age­ment. The invest­ment syn­di­cate con­sists of Maven Cap­i­tal Part­ners, Seneca Part­ners, the Devel­op­ment Bank of Wales and Down­ing LLP. The finance will be deployed to ensure the achieve­ment of spe­cif­ic busi­ness goals with­in the company’s over­ar­ch­ing cor­po­rate strategy.

“We are delight­ed to have obtained this addi­tion­al injec­tion of funds that will be used to sup­port the company’s strate­gic aspi­ra­tions, includ­ing con­cep­tu­al design of a down­stream for­mu­la­tion and fill­ing oper­a­tion to com­ple­ment our exist­ing bio­con­ju­ga­tion oper­a­tions at the Dee­side facil­i­ty. We are also look­ing to ful­ly exploit our core Lock-Release tech­nol­o­gy to cre­ate a trans­for­ma­tive man­u­fac­tur­ing par­a­digm that will sig­nif­i­cant­ly stream­line ADC man­u­fac­tur­ing sup­ply chains”.
Char­lie John­son, CEO of ADC Bio

This fol­lows the announce­ment last April in which the com­pa­ny unveiled that it had secured fund­ing from Down­ing LLP to bol­ster the company’s mar­ket­ing and new busi­ness dri­ve for quick­er pen­e­tra­tion into the main US market.
John­son added: “The invest­ment has been secured in response to strong sup­port­ive trends from the ADC devel­op­ment sec­tor and will be put to good use in our planned strat­e­gy to fur­ther dif­fer­en­ti­ate our company’s unique tech­nol­o­gy and ser­vice offering.”