Davis Polk Advises ADC Therapeutics SA on Its $267 Million Initial Public Offering

Davis Polk advised ADC Therapeutics SA on its SEC-registered initial public offering of 14,082,475 common shares, which included the exercise in full by the underwriters of their option to purchase additional common shares, for total gross proceeds of approximately $267.6 million. ADC Therapeutics is listed on the New York Stock Exchange under the ticker symbol “ADCT”.

ADC Therapeutics is a late clinical-stage oncology-focused biotechnology company pioneering the development and commercialization of highly potent and targeted antibody drug conjugates (ADCs) for patients suffering from hematological malignancies and solid tumors. ADC Therapeutics develops ADCs by applying its decades of experience in this field and using next-generation pyrrolobenzodiazepine (PBD) technology to which ADC Therapeutics has proprietary rights for its targets. Strategic target selection for PBD-based ADCs and substantial investment in early clinical development have enabled ADC Therapeutics to build a deep clinical and research pipeline of therapies for the treatment of hematological and solid tumor cancers with significant unmet need. ADC Therapeutics has multiple PBD-based ADCs in ongoing clinical trials, ranging from first in human to pivotal Phase 2 clinical trials, in the USA and Europe, and numerous preclinical ADCs in development.

The Davis Polk capital markets team included partners Deanna L. Kirkpatrick and Yasin Keshvargar and associates David Li and Yuchen Han. Partner David R. Bauer and associate Jay Frankel provided intellectual property advice. Partner Kyoko Takahashi Lin and counsel Gregory D. Hughes provided executive compensation advice. Partner Mario J. Verdolini and associate Talya Presser provided tax advice. Members of the Davis Polk team are based in the New York and Northern California offices.