RTTNews | Dec 15, 2020 09:51AM EST

09:51 Tuesday, December 15, 2020 (RTTNews.com) - New York-based cross-border advisory firm M.S.Q. Ventures said Tuesday that its client, ADC Therapeutics SA (ADCT), has reached an agreement to jointly form a new company, Overland ADCT BioPharma (CY) Limited with Overland Pharmaceuticals, a biopharmaceutical company backed by Hillhouse Capital.

As per the terms of the deal, 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.

Read the original article on RTTNews ( https://www.rttnews.com/3153882/adc-overland-pharma-form-jv-to-expand-adc-drugs-development-commercialization-in-china-singapore.aspx)

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