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ADC Bio announced last month that it is in the process of developing and internally validating its new upstream bioconjugation approach. The highly disruptive method, which leverages the company’s patented Lock-Release technology, would save several months of manufacturing time and up to 25% of overall manufacturing costs.

Charlie Johnson, CEO of ADC Bio commented: “We are very pleased to have been selected by Downing LLP and BioScience Managers for this investment and we look forward to putting the capital to great use in two major elements of our overall strategy for continued growth. The funding will in part help us to continue to lead further industry innovation, specifically, the investigation and validation of our upstream bioconjugation method - the benefits of which we then intend to bring to the market. Moreover, the investment also provides us with more resources to implement the latest phase in our business development plan, namely, securing more contracts from the main US market in our drive to further expand our international client base and thereby to increase total revenues.”

Richard Lewis, director at Downing LLP commented: “ADC Bio is an incredibly innovative CDMO, helping its clients to develop a new class of drugs to combat cancer. The healthcare industry is growing globally and it will continue to grow, funded by the increasing requirements of not just Western economies but those in China, India and Japan. A key driver of the market opportunity is the increasing demands on healthcare generally, and for cures for diseases previously without effective treatment.“