Investment management firm Downing has invested £1.14m in Wales-based ADC Biotechnology.
The investment was made via Downing FOUR VCT, which was advised by BioScience Managers, the international healthcare investment firm.
ADC Biotechnology is creating an innovative new technology, which they say, aims to speed up, simplify and significantly lower the costs of the processes involved in the production of new antibody drug conjugates (ADCs).
ADCs are antibodies that are attached to cancer-killing drugs using chemical ‘linkers.’ These are used for targeted treatment of cancerous tissue.
The new money will allow the company to continue the development of its ‘Lock-Release’ product and facilitate the company’s expansion to the US with quality control labs, equipment and the creation of new manufacturing infrastructure.
Jeremy Curnock Cook, Managing Director at BioScience Managers, said: “The healthcare industry is growing globally, funded by an ageing population in Western countries and increasing affluence in emerging markets such as China and India. ADC Biotechnology is ideally positioned to serve customers operating in these markets by applying its proprietary expertise to develop the next generation of cancer therapeutics.”
Richard Lewis, Investment Director, Downing added: “VCTs can be an ideal way for investors to access small specialist companies. They provide a portfolio of companies that can yield strong returns. Importantly, VCTs can facilitate the development of technologies to a point where they are recognised by the major players, therefore providing the opportunity for both consolidation and exit.”