ADC Therapeutics Announces Strategic Reorganization to Drive Growth

ADC Therapeutics SA, a commercial-stage global leader and pioneer in the field of antibody drug conjugates (ADCs), announced a strategic reorganization to focus resources behind key value-driving initiatives in support of the ZYNLONTA (loncastuximab tesirine-lpyl) franchise.

As part of the reorganization, ADC Therapeutics plans to reduce its workforce globally by approximately 17 percent. The reduction is driven by the expected completion of the LOTIS-5 and LOTIS-7 trials this year, as well as operational efficiencies. With these changes, the Company is resourced to deliver on its key clinical, regulatory and manufacturing activities while maintaining the full externally facing medical affairs and commercial footprint to support ZYNLONTA.

"As we further assess the Phase 3 LOTIS-5 trial outcomes, including feedback from key medical experts, we continue to believe in the favorable overall benefit-risk profile and look forward to our pre-supplemental Biologics License Application (sBLA) meeting with the U.S. Food and Drug Administration in August," said Ameet Mallik, Chief Executive Officer of ADC Therapeutics. "This strategic reorganization will enable us to increase our financial flexibility as we prepare for upcoming LOTIS-5 regulatory milestones and continue building on the broader opportunity for ZYNLONTA through LOTIS-7 and support for the indolent lymphoma investigator-initiated trials (IITs). We are grateful to all of our employees for their efforts to help make a meaningful impact for patients and thank them for their important contributions to our company."