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Sterling Pharma Solutions has formed a new strategic partnership with ADC Bio.
Contract development and manufacturing organization, Sterling Pharma Solutions, has formed a new strategic partnership with a biotechnology company based in the United Kingdom that specializes in antibody-drug conjugates, ADC Bio.
The partnership, which was announced in a Dec 2, 2020 press release, will see significant investment by Sterling into ADC Bio with the ultimate aim of acquiring the biotech company in Q1 of 2021, subject to due diligence. Working together, the companies will develop an integrated service offering for existing and potential customers that will combine ADC Bio’s expertise 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,” said Kevin Cook, CEO at Sterling, in the press release. “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.”
“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,” added Alan Raymond, executive chairman of ADC Bio, in the press release. “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.”