ADC Therapeutics Sells Zynlonta Royalty Rights for $50M

TL;DR

ADC Therapeutics cashes in $50M for Zynlonta royalties, Lyell gets a piece of the action.

AI Summary

ADC Therapeutics SA announced on March 5, 2024, that it has entered into a definitive agreement to sell its royalty rights for Zynlonta (loncastuximab tesirine-lpyl) to an affiliate of Lyell Immunoscience, Inc. for an upfront payment of $50 million. The agreement also includes potential milestone payments and royalties on future sales, with ADC Therapeutics retaining certain rights and obligations related to Zynlonta.

Why It Matters

This transaction provides ADC Therapeutics with immediate capital, potentially strengthening its financial position and allowing it to focus on its pipeline, while Lyell Immunoscience gains exposure to a key oncology asset.

Risk Assessment

Risk Level: medium — The deal involves upfront and potential future payments, with ongoing obligations and market performance of Zynlonta impacting the ultimate value for both parties.

Key Numbers

• $50.0M — Upfront Payment (Received by ADC Therapeutics for Zynlonta royalty rights.)

Key Players & Entities

• ADC Therapeutics SA (company) — Seller of royalty rights
• Zynlonta (drug) — Product with royalty rights sold
• loncastuximab tesirine-lpyl (drug) — Active ingredient of Zynlonta
• Lyell Immunoscience, Inc. (company) — Buyer of royalty rights
• $50 million (dollar_amount) — Upfront payment for royalty rights
• March 5, 2024 (date) — Date of definitive agreement

FAQ

Filing Documents

• dp207969_8k.htm (8-K) — 22KB
• dp207969_ex9901.htm (EX-99.1) — 27KB
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• 0000950103-24-003406.txt ( ) — 7583KB
• adct-20240305.xsd (EX-101.SCH) — 3KB
• adct-20240305_lab.xml (EX-101.LAB) — 33KB
• adct-20240305_pre.xml (EX-101.PRE) — 22KB
• dp207969_8k_htm.xml (XML) — 4KB

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure. On March 5, 2024, ADC Therapeutics SA (the "Company") made available a presentation expected to be used in connection with certain industry conferences and investor meetings. A copy of the presentation is attached as Exhibit 99.1 to this Current Report on Form 8-K and incorporated by reference herein. The information contained in this Item 7.01 and Exhibit 99.1 shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 99.1 Presentation dated March 5, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ADC Therapeutics SA Date: March 5, 2024 By: /s/ Peter J. Graham Name: Peter J. Graham Title: Chief Legal Officer

View Full Filing

View this 8-K filing on SEC EDGAR