Global contract development and manufacturing organization (CDMO), Sterling Pharma Solutions, has announced a new strategic partnership with ADC Biotechnology (ADC Bio), a UK based biotechnology company specializing in antibody drug conjugates.
The partnership will see Sterling make an investment in the business with a view to acquiring ADC Biotechnology in Q1 next year, subject to due diligence.
The businesses will work together to develop an integrated service offering for existing and potential customers, which combines ADC Bio’s knowledge with Sterling’s high potency small molecule expertise.
“This partnership is a really exciting one for both businesses. It will enable continued innovation around this fast-developing science, and in the future, we hope that our combined expertise and targeted investment will be a strong competitive force in the race to find the latest generation of drugs in the oncology area,” Kevin Cook, CEO at Sterling, said. “Sterling has always been, and will continue to be, focused on the services we can provide to our customers to ensure they are ahead of the innovation curve and can develop the latest scientific breakthroughs to deliver better drugs for their patients. This partnership is a perfect example of this; some of the finest experts working together to achieve bigger and better things.”
Subscribe to our e-Newsletters
Stay up to date with the latest news, articles, and events. Plus, get special offers
from Pharmaceutical Outsourcing – all delivered right to your inbox! Sign up now!
“The team at ADC Bio have been at the forefront of antibody drug bioconjugation and process development, supporting important advances in oncology with our clients in recent years. This strategic partnership will allow us to further develop this service with significant investment in the right areas of the business, which is great news for our employees and our customers. We are looking forward to working with the team at Sterling,” Alan Raymond, Executive Chairman of ADC Bio, said.
The announcement follows Sterling’s acquisition of a second US development and manufacturing facility in Wisconsin in September. The UK headquartered CDMO now employs over 700 people across the UK and the US.