ADC, Overland Pharma Form JV To Expand ADC Drugs Development & Commercialization In China &Singapore

(RTTNews) - New York-based cross-border advisory firm M.S.Q. Ventures said Tuesday that its client, ADC Therapeutics SA (ADCT), has reached an agreement to jointly form a new company, Overland ADCT BioPharma (CY) Limited with Overland Pharmaceuticals, a biopharmaceutical company backed by Hillhouse Capital.

As per the terms of the deal, ADC Therapeutics licensed exclusive development and commercialization rights to Lonca, ADCT-602, ADCT-601 and ADCT-901 for greater China and Singapore to Overland ADCT Biopharma, in which Overland Pharmaceuticals has invested $50 million.

Overland Pharmaceuticals will have a 51% stake and ADC Therapeutics a 49% stake.

ADC Therapeutics can also earn milestone payments and royalties from the license agreement with Overland ADCT BioPharma.