Homburger advised ADC Therapeutics on the amendment of the financing agreement with HealthCare Royalty

On February 23, 2026, ADC Therapeutics SA (NYSE: ADCT) announced that it had amended its royalty purchase agreement with entities managed by HealthCare Royalty.

As consideration for reducing change of control payment from USD 750 m to USD 150 m to USD 200 m, HealthCare Royalty has received warrants to purchase approximately 9.8 m common shares of ADC Therapeutics at an exercise price of USD 3.81 per share.

Homburger advised ADC Therapeutics on the Swiss law aspects of the transaction. The Homburger team was led by Daniel Häusermann and included Estelle Piccard and Anina Preusker (all Corporate / M&A, Capital Markets).