The announcement follows Sterling’s acquisition of a second US development and manufacturing facility in Wisconsin in September
Sterling Pharma Solutions, has announced a strategic partnership with UK-based ADC Biotechnology.
The partnership will see Sterling make a significant investment in ADC with a view to acquiring it in Q1 next year, subject to due diligence.
The businesses will develop an integrated service offering for existing and potential customers, which combines ADC’s expertise with Sterling’s high potency small molecule expertise.
Kevin Cook, CEO at Sterling, said: “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.
“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.”
Alan Raymond, Executive Chairman of ADC, 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 UK headquartered CDMO now employs over 700 people across the UK and the US.