Adc Therapeutics SA Dossier
Qualitative Analysis
Business overview
ADC Therapeutics SA (NYSE: ADCT) is a commercial-stage global leader and pioneer in the field of antibody-drug conjugates (ADCs). Headquartered in Epalinges, Switzerland, the company is dedicated to developing highly targeted oncology therapies that combine monoclonal antibodies with potent pyrrolobenzodiazepine (PBD) dimer payloads to selectively destroy cancer cells. Its flagship commercial product, ZYNLONTA (loncastuximab tesirine-lpyl), is an FDA-approved CD19-directed ADC indicated for patients with relapsed or refractory diffuse large B-cell lymphoma (DLBCL) after two or more lines of systemic therapy. The company is actively expanding ZYNLONTA's clinical utility into earlier lines of therapy and other B-cell malignancies.
Research as of 19 Jun 2026
Strategic Initiatives
Growth programs, investments, and their expected impact
Expanding the clinical utility of ZYNLONTA into earlier lines of therapy (second-line and later DLBCL) and in combination with other agents like rituximab (LOTIS-5) and the bispecific antibody glofitamab (LOTIS-7).
Expected impact: Unlocking the second-line DLBCL market, which is estimated to be worth approximately $3 billion in the U.S. alone, and driving long-term commercial growth starting in 2027.
Amending the royalty purchase agreement with HealthCare Royalty to reduce potential change-of-control payments and executing private placements (PIPE) to extend the cash runway.
Expected impact: Reduces change-of-control payments from $750 million to $150 million through 2027, providing the company with significantly increased strategic flexibility and securing an operational cash runway into 2028.
Mergers, Acquisitions & Partnerships
Recent deals and strategic collaborations
Strategic Partnerships
Sobi holds exclusive rights to develop and commercialize ZYNLONTA for all hematologic and solid tumor indications in Europe and most international markets outside of the U.S., China, Singapore, and Japan.
Terms: ADC Therapeutics received a $55 million upfront payment and a $50 million milestone payment triggered by European Commission approval. Sobi will also pay royalties ranging from mid-teens to mid-twenties on net sales, plus up to $330 million in potential regulatory and sales milestones.
MTPC holds exclusive rights to develop and commercialize ZYNLONTA for all hematologic and solid tumor indications in Japan.
Terms: ADC Therapeutics received an upfront payment of $30 million and is eligible to receive up to an additional $205 million in development and commercial milestones, plus royalties on net sales.
The joint venture is dedicated to developing and commercializing ZYNLONTA in Greater China and Singapore, including conducting registrational clinical trials to support local approvals.
Terms: Formed as a strategic joint venture to share development costs and maximize the commercial footprint of ZYNLONTA in Asian markets.