British drug maker Spirogen, which has its headquarters in
It will also pay
That sum is being matched by private equity firm Auven Therapeutics, which is the majority shareholder in both ADC Therapeutics and Spirogen.
Oncology treatments, both traditional "small cell" pills and injectable biologics, have been prioritised as a research area by
MedImmume, the US biotech business that
The unit is focused on two key areas in oncology development - antibody-drug conjugates and immune-mediated cancer therapy, which aims to harness the power of the patient's own immune system to fight cancer.
"We were very pleased with the outcome."
British drug maker
Spirogen, which has its headquarters in