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AstraZeneca among backers as Swiss cancer biotech raises $200 million

AstraZeneca among backers as Swiss cancer biotech raises $200 million
From Reuters - October 23, 2017

LONDON (Reuters) - An unlisted Swiss biotech company focused on developing armed antibodies to fight cancer has raised $200 million in a funding round backed by AstraZeneca and other private backers.

The new money will allow ADC Therapeutics (ADCT) to advance two experimental drugs into clinical trials next year, which could be used to seek regulatory approval, as well as funding earlier-stage research.

ADCT specializes in developing so-called antibody drug conjugates that combine an antibody with a killer toxin to attack tumors. Roches breast cancer drug Kadcyla is a well-known example of this new type of medicine.

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