Auven Therapeutics has invested in therapeutic platform companies as well as individual therapeutic assets. The investments are managed or overseen by Auven Therapeutics Development team.

Auven Therapeutics has built a diversified portfolio of biologic and small molecule therapeutic candidates for a wide range of therapeutic indications. Its pipeline addresses critical unmet medical needs with large market potential in a multitude of cancers, different eye diseases and orphan diseases.

The Auven Therapeutics’ managed asset portfolio comprises:

Companies we are invested in include:

ADC Products

ADC Products Switzerland Sarl (“ADC-PS”) was formed in October, 2013 in conjunction with the sale of Spirogen Sarl to AstraZeneca (see Spirogen Sarl report). ADC-PS is the holding company that was created to hold all the Spirogen assets that were excluded from the sale of Spirogen Sarl to AstraZeneca, including milestone and royaly interests in PBD-based ADC’s in development under pre-existing licenses at the time of the sale of Spirogen Sarl.

ADC Products Switzerland Sarl

Swiss-based ADC Products Switzerland Sarl holds the following assets and investments:

• The License Agreement with StemCentRx, now part of Abbvie, covering Rova-T in Phase III development for the treatment of Small Cell Lung Cancer, and all other PBD-based ADC’s within the StemCentrx pipeline

• Shares in Celldex Therapeutics, Inc.

• Shares in ADC Therapeutics Sarl (approximate 10% stake)

• A wholly-owned UK subsidiary ADC Products UK Ltd (“ADCP-UK”)

ADC-PS is also the beneficiary of a Swiss Tax Ruling which means it pays Swiss corporate tax at a rate of approximately 1-2%.

Auven Therapeutics has an approximate 74% equity stake in ADC-PS.

ADC Products UK Ltd

UK-based ADC Products UK Ltd (a wholly owned subsidiary of ADC-PS) holds the following:

• The License Agreement with Genentech, covering the PBD-based ADC that Genentech has in Phase I-II clinical trials, and other PBD-based ADC’s that Genentech has in preclinical development

• The License Agreement with Seattle Genetics, covering a PBD-based ADC that a Seattle Genetics licensee has in Phase I-II clinical development

ADCP-UK pays UK corporate tax at a rate of approximately 22%.

Any receipts from the License Agreements with Genentech and Seattle Genetics are subject to a 26% revenue share pursuant to the 2012 Share Purchase Agreement by which Spirogen Sarl acquired all of the outstanding shares in Spirogen Limited.

ADC Therapeutics

Auven Therapeutics founded ADC Therapeutics Sarl (ADCT) in 2012. It is a Swiss-based oncology drug discovery and development company that specializes in the development of proprietary Antibody Drug Conjugates (ADCs) targeting major cancers. The Company’s ADCs are highly targeted drug constructs which combine monoclonal antibodies specific to particular types of tumor antigens with a novel class of highly potent pyrrolobenzodiazepine (PBD)-based warheads. We, unlike others, are currently using 3rd generation chemistry and proprietary processes to link the warhead to the antibody.

As the Company’s PBD-based warheads do not distort the structure of the target cell’s DNA, its ADCs offer the prospect of highly potent, target-selective cancer therapies with fewer side effects and the potential to pre-empt resistance issues faced by other anti-cancer products on the market.

In October 2013, ADC Therapeutics and AstraZeneca (AZ) entered into a collaboration agreement for AZ to buy Spirogen as well as licenses to 11 exclusive and specific antibody targets to specific tumor antigens and 10 additional targets using affinity binding other than antibodies. AZ also invested $20 million in ADC Therapeutics alongside a $20 million additional investment from Auven Therapeutics.

Details of the current ADCT 8 clinical trials can be found at: . ADCT has 5 ADCs in clinical development with the first ADCT-402 in a pivitol trial and another ADCT-301 going to a pivitol trial shortly. There should be 2 unique additional ADCs entering clinical development over the next year, making the total 7.

For further information please visit the ADC Therapeutics website.

Sprout Pharmaceuticals

Auven Therapeutics invested in Sprout Pharmaceuticals, Inc., a spin-off of Slate Pharmaceuticals, Inc., in March 2012. In August 2015, right after approval by FDA, Valeant Pharmaceuticals entered into an agreement to purchase Sprout along with the worldwide rights to Flibanserin for $1 billion in upfront consideration plus substantial sales milestone and royalty payments. In 2018, Valeant Pharmaceuticals (now Bausch Health Companies) returned the product rights to Sprout shareholders, with a $25 million loan. Auven Therapeutics was an investor in Sprout and sold its shares for an 11 times return on the investment. Sprout is currently relaunching the drug.

Flibanserin is an FDA-approved centrally acting product showing very good efficacy in the treatment of selected aspects of female sexual dysfunction. For more information please visit the Sprout website .