Corporate partner Ben Devons and associate Frances Spooner advised Maven Capital Partners, one of the UK’s most active private equity houses, on leading an investment with Seneca and Finance Wales into ADC Biotechnology, a company operating in the highest growth sector within oncology therapeutics.
The investment, together with a grant provided by the Welsh Government, will be used by ADC Bio to support the construction of a dedicated pharmaceutical manufacturing facility at a site in North Wales.
ADC Bio has developed a unique patented technology for the development and manufacture of Antibody Drug Conjugates (ADC) group of cancer therapies, which are thought to be highly effective anti-cancer drugs with reduced side-effects compared to other cancer treatments. The new manufacturing facility will allow ADC Bio to complete its move into clinical and commercial ADC manufacturing and bolster its client base.
Melanie Goward, Investment Director at Maven, says: “ADC Bio is one of the pioneers in manufacturing of oncology therapeutics. We are delighted to be leading the consortium of investors to fund the company’s new innovative clinical facility in Wales, as well as creating highly skilled new jobs in the area. This a hugely exciting time for ADC Bio given the growing global demand for anti-cancer drugs and we have every confidence that the company will benefit from the cost efficiencies of its Lock-Release technology. We look forward to working with Charlie Johnson and his highly skilled team as they grow the already strong customer base.”