ADC Biotechnology secures funding for new facility in Deeside

Insider Media has reported that ADC Biotechnology, a developer of anti-cancer drugs, has secured investment to support construction of a pharmaceutical manufacturing facility in Deeside, which will create about fifty jobs.

The facility will cost £8m to construct, a substantial part of which has been funded by a syndicate of technology investors, including Maven Capital Partners, Seneca and Finance Wales. The Welsh Government is also providing a grant.

ADC Bio has developed a unique patented Lock-Release technology for the development and manufacture of antibody drug conjugates (ADC) group of cancer therapies which are designed to specifically target and kill tumour cells. The new facility will allow the company to complete its move into clinical and commercial ADC manufacturing. A number of clients have already confirmed their commitment to using the site.

Charlie Johnson, chief executive at ADC Biotechnology, said “The investment and development in the new facility will see the creation of a host of new, degree level and above jobs locally. We are very confident about orders and already have confirmation that many of our existing customers will use the new facility for future projects and we expect to add a number of new drug projects from companies in the USA and Europe.”

Melanie Goward, investment director at Maven, said “ADC Bio is one of the pioneers in manufacturing of oncology therapeutics. We are delighted to be leading the consortium of investors to fund the company’s new innovative clinical facility in Wales, as well as creating highly skilled new jobs in the area.”

Paul Lee, deputy fund manager, technology venture investments at Finance Wales, said “Since our entry investment in 2011, we’ve supported ADC over interim additional rounds, and we are pleased to extend such support as a key participant in the current syndicated round. Moving into GMP manufacture is a major ‘step change’ for ADC’s development and technical offering. ADC is a high growth technology company which is creating highly skilled jobs in north Wales and we’re looking forward to continue working with them as they expand.”

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