ADC Therapeutics and Overland Pharma Form Strategic JV to Expand ADC Drugs Development and commercialization in Greater China and Singapore, Advised by MSQ Ventures

PR87273

NEW YORK, Dec. 16, 2020 /PRNewswire=KYODO JBN/ --

M.S.Q. Ventures ("MSQ") is pleased to announce that its client, ADC

Therapeutics SA (NYSE: ADCT), has successfully entered into an agreement to

jointly form a new company, Overland ADCT BioPharma (CY) Limited with Overland

Pharmaceuticals, a fully integrated, biopharmaceutical company backed by

Hillhouse Capital.

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Under the terms of the agreement, 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.

"As we prepare for the potential U.S. launch of Lonca in 2021, we are delighted

that Overland ADCT BioPharma will expand access to the therapy, as well as

three of our other pyrrolobenzodiazepine (PBD)-based antibody drug conjugates,

to address patient needs in greater China," said Chris Martin, CEO of ADC

Therapeutics. "The MSQ team has been working from A to Z to help us understand

China's market, develop a plan, execute strategic objectives, and advise on

this transaction. Their systematic approach and laser focus on results

contributed to our success."

Ed Zhang, Co-founders of Overland Pharmaceuticals, stated, "We are excited to

bring these first four candidates into Overland ADCT BioPharma's portfolio and

look forward to developing this new company into a leading oncology player in

China. We are pleased to work with ADC Therapeutics, a pioneer in the field of

ADCs, on this strategic venture. MSQ's professionalism and understanding of

both parties' objectives helped to expedite this successful transaction

especially during COVID-19."

As ADC Therapeutics embarks on this exciting phase of its global plan, Echo

Hindle-Yang, CEO of MSQ reflected on the transaction, "This new cross-border

venture is another example that even in the era of COVID-19, global innovators

such as ADC Therapeutics and Overland Pharmaceuticals have joined forces. We

are heartened by what this could mean for cancer patients.  We congratulate

both teams and look forward to more breakthroughs from them in the future."

About MSQ  

M.S.Q. Ventures is a New York-based cross-border advisory firm that bridges the

healthcare industries globally by offering our deep knowledge, strong network,

and local insights into the China market.  

Echo Hindle-Yang, CEO, MSQ

hindleyang@msqventures.com

SOURCE MSQ Ventures