Oncology company ADC Bio has secured £2.5 million of additional funding to help it achieve business targets, the company has announced.
Funding
The funding follows news from last April in which ADC Bio secured funding from investment group Downing LLP to help drive access into the US market.
Charlie Johnson, CEO of ADC Bio commented: “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”.
“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,” Johnson added.