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Sterling Pharma Solutions has announced a new strategic collaboration with ADC Biotechnology, a UK-based biotechnology company specializing in antibody-drug conjugates.
FREMONT, CA: Sterling Pharma Solutions (Sterling), a global contract production and manufacturing organization (CDMO), has announced a new strategic collaboration with ADC Biotechnology (ADC Bio), a UK-based biotechnology company specializing in antibody-drug conjugates.
The collaboration will see Sterling make a significant investment in the company with a view to purchasing, subject to due diligence, ADC Biotechnology in Q1 next year.
The companies will work together to build an innovative service portfolio that blends ADC Bios capabilities with Sterling's high-power tiny molecule expertise for current and potential customers.
Kevin Cook, Sterling CEO, stated that this relationship is a fascinating one for both firms. It will allow for continued advancement in this rapidly evolving science. In the future, the company hopes that its collective experience and focused investment will be a strong competitive force in the oncology drug discovery race.
Sterling has always been and will strive to be based on the services they can offer to the clients to ensure that they are ahead of the curve of progress and that the latest technological breakthroughs can be developed to provide their patients with better medicines. A great example of this is this partnership; some of the best experts work together to do bigger and better things.
Alan Raymond, Executive Chairman of ADC Bio, added, "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."
The announcement follows the purchase in September by Sterlings of a second US construction and manufacturing facility in Wisconsin. CDMO, which is based in the UK, currently employs over 700 people in the UK and the US.
Macfarlanes represented Sterling Pharma Solutions, and FRP Corporate Finance and Mills & Reeve LLP advised ADC Bio.