ADC Therapeutics raises $86.6M to fund lymphoma trials, extend runway to 2029
What's the deal? ADC Therapeutics, a commercial-stage antibody drug conjugate maker based in Lausanne, Switzerland, has raised $86.6 million in a private placement. New investor Bain Capital Life SciencesDealroom has a profile for this one. Try Dealroom → joined existing backers RedmileDealroom has a profile for this one. Try Dealroom →, TCGXDealroom has a profile for this one. Try Dealroom →, and Nantahala CapitalDealroom has a profile for this one. Try Dealroom →.
The details: The private investment in public equity (PIPE) prices 12.9 million common shares at $1.42 each, plus pre-funded warrants for 48.1 million shares. It is expected to close on October 22, 2026.
Where the money goes: ADC Therapeutics will fund continued studies of its lead drug ZYNLONTA, including Phase 3 trials in diffuse large B-cell lymphoma and marginal zone lymphoma, plus working capital and general corporate purposes.
The bigger restructuring: The raise is one piece of a broader balance-sheet overhaul. The company amended its HealthCare RoyaltyDealroom has a profile for this one. Try Dealroom → agreement to remove a change-of-control payment, and refinanced its senior secured loan to cut principal to $50 million, with a bullet payment due August 2029 and no minimum liquidity requirement.
Why now? Chief executive officer Ameet Mallik said the moves reflect "confidence in ZYNLONTA's growth potential" ahead of trial data. The company expects LOTIS-7 and marginal zone lymphoma abstracts in early November, with presentations in December at the American Society of Hematology Annual Meeting.
What's the endgame? Together, the financing and refinancing extend ADC Therapeutics' expected cash runway into 2029, buying time to deliver clinical results and reduce leverage.
The signal: At $86.6 million, the round sits in the 90th percentile of private placement deals for health companies in Switzerland over the past four years. For a commercial-stage biotech, pairing fresh equity with debt restructuring is a familiar playbook to stay funded through a pivotal data stretch.
Read more: marketscreener.com
Image credit: Generated with Gemini
