Synthetic RoyaltyTM FinancingUp to $325 Million
ZYNLONTATM is a CD19-directed antibody drug conjugate (ADC). Once bound to a CD19-expressing cell, ZYNLONTATM is internalized by the cell, where enzymes release a pyrrolobenzodiazepine (PBD) payload. The potent payload binds to DNA minor groove with little distortion, evading DNA repair mechanisms. This ultimately results in cell cycle arrest and tumor cell death.
As ADC Therapeutics was progressing with the launch of ZYNLONTATM (loncastuximab tesirine) in the United States, the company was seeking non-dilutive financing to support commercial and clinical development activities. In August 2021, HCRx and ADC Therapeutics announced a SYNTHETIC ROYALTYTM financing for up to $325 million, including $225 million funded at closing, $75 million upon the first commercial sale of ZYNLONTATM in Europe, and an additional $25 million upon the achievement of a near-term commercial milestone for ZYNLONTATM.