Business & Economy
Sterling Pharma Solutions completes ‘multi-million-pound’ ADC Biotechnology deal
April 12, 2021
A Northumberland-headquartered drugs company has completed a takeover it says will help deliver next-generation cell treatments.
Sterling Pharma Solutions has acquired North Wales’ ADC Biotechnology (ADC Bio).
Bosses at Sterling, based in Dudley, near Cramlington, say the “multi-million-pound” deal will deliver a centre of excellence for antibody drug conjugate (ADCs) development and manufacturing.
ADCs use a targeting antibody to deliver potent drugs directly to diseased cells and have historically been used to treat cancers, though work has now been extended into other areas that include infection, autoimmune and inflammation.
Kevin Cook, chief executive at Sterling Pharma Solutions, said: “This is an exciting time for both businesses as we embark on a period of growth and diversification to enable continued innovation around this fast-developing science.
“In the future, we hope that our combined expertise and targeted investment will be a strong competitive force to support our customers in the race to find the latest generation of drugs for patients.
“I’d like to welcome all ADC Bio employees to the Sterling family.”
Under the terms of its expansion plans, Kevin revealed ADC Bio’s existing technical services team will grow, as will its analytical services operation.
Alan Raymond, ADC Bio executive chairman, added: “This is fantastic news for our employees and our customers; targeted investment in both people and processes will allow the team to continue supporting important advances in pharmaceutical drug development.”
Alongside its Northumberland headquarters, Sterling Pharma Solutions operates two sites in the USA.
The business employs around 750 people worldwide.