ADC Therapeutics SA, which develops targeted therapies for cancer, filed for an IPO of up to $150 million on the NYSE.
The Lausanne, Switzerland-based drugmaker develops antibody drug conjugates, which work by delivering chemotherapeutic cytotoxins directly to tumor cells. The therapies aim to maximize activity in tumor cells while sparing healthy cells.
The company plans to list its common shares on the stock exchange under the ADCT ticker symbol.
ADC plans to use net proceeds from the offering primarily for the clinical development of its product candidates. The company is developing ADCT-402 in an ongoing phase 2 study for patients with relapsed or refractory diffuse large B-cell lymphoma, a type of blood cancer.
The drugmaker also plans to advance ADCT-301 through a mid-stage trial for patients with relapsed or refractory Hodgkin lymphoma, and to complete an ongoing phase 1/2 clinical trial of its ADCT-602 for treating relapsed or refractory acute lymphocytic lymphoma. The company also plans to complete an early-stage trial of its ADCT-601 for selected advanced solid tumors.
Further, ADC plans to use the rest of the proceeds to scale up its commercial operations in the U.S., and to fund research and development activities and general corporate purposes.
Morgan Stanley, BofA Merrill Lynch and Cowen are acting as joint book-running managers for the IPO.
In September 2018, the Swiss drugmaker was reported to be considering a potential U.S. IPO or sale. ADC Therapeutics backers include AstraZeneca PLC.

