ADC Biotechnology has secured £1.14 million in funding from investment managers, Downing LLP to advance the company’s business efforts for faster market penetration in the U.S. The investment will also assist the development of an advanced bioconjugation method, a new ADC manufacturing approach, and a conceptual design for implementation of a fill-finish operation at the company’s facility in Deeside.
 
ADC Bio is in the process of developing and internally validating its new upstream bioconjugation approach. The highly disruptive method leverages the company’s Lock-Release technology, and aims to save several months of manufacturing time and as much as 25% of overall manufacturing costs.
 
Charlie Johnson, chief executive officer of ADC Bio said, “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 U.S. market in our drive to further expand our international client base and thereby to increase total revenues.”