<SEC-DOCUMENT>0001104659-25-103336.txt : 20251028
<SEC-HEADER>0001104659-25-103336.hdr.sgml : 20251028
<ACCEPTANCE-DATETIME>20251028210010
ACCESSION NUMBER:		0001104659-25-103336
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20251027
FILED AS OF DATE:		20251028
DATE AS OF CHANGE:		20251028

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Redmile Group, LLC
		CENTRAL INDEX KEY:			0001425738
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39071
		FILM NUMBER:		251426515

	BUSINESS ADDRESS:	
		STREET 1:		ONE LETTERMAN DRIVE
		STREET 2:		BUILDING D, SUITE D3-300
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94129
		BUSINESS PHONE:		415-489-9980

	MAIL ADDRESS:	
		STREET 1:		ONE LETTERMAN DRIVE
		STREET 2:		BUILDING D, SUITE D3-300
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94129

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			RedCo II Master Fund, L.P.
		CENTRAL INDEX KEY:			0001921783
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39071
		FILM NUMBER:		251426513

	BUSINESS ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		C/O MAPLES CORPORATE SERVICES LIMITED
		STREET 2:		PO BOX 309, UGLAND HOUSE
		CITY:			GEORGE TOWN, GRAND CAYMAN
		PROVINCE COUNTRY:   	E9
		BUSINESS PHONE:		4154899980

	MAIL ADDRESS:	
		STREET 1:		ONE LETTERMAN DRIVE
		STREET 2:		BUILDING D, SUITE D3-300
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94129

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Green Jeremy
		CENTRAL INDEX KEY:			0001650527
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39071
		FILM NUMBER:		251426514

	MAIL ADDRESS:	
		STREET 1:		ONE LETTERMAN DRIVE
		STREET 2:		BUILDING D, SUITE D3-300
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94129

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ADC Therapeutics SA
		CENTRAL INDEX KEY:			0001771910
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		EIN:				000000000
		STATE OF INCORPORATION:			V8
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		BIOPOLE
		STREET 2:		ROUTE DE LA CORNICHE 3B
		CITY:			EPALINGES
		STATE:			V8
		ZIP:			1066
		BUSINESS PHONE:		41 21 653 02 00

	MAIL ADDRESS:	
		STREET 1:		BIOPOLE
		STREET 2:		ROUTE DE LA CORNICHE 3B
		CITY:			EPALINGES
		STATE:			V8
		ZIP:			1066
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>tm2529454-1_4seq1.xml
<DESCRIPTION>OWNERSHIP DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2025-10-27</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001771910</issuerCik>
        <issuerName>ADC Therapeutics SA</issuerName>
        <issuerTradingSymbol>ADCT</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001425738</rptOwnerCik>
            <rptOwnerName>Redmile Group, LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>ONE LETTERMAN DRIVE, BUILDING D</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE D3-300</rptOwnerStreet2>
            <rptOwnerCity>SAN FRANCISCO</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94129</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001650527</rptOwnerCik>
            <rptOwnerName>Green Jeremy</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O REDMILE GROUP, LLC (NY OFFICE)</rptOwnerStreet1>
            <rptOwnerStreet2>45 W. 27TH STREET, FLOOR 11</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10001</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001921783</rptOwnerCik>
            <rptOwnerName>RedCo II Master Fund, L.P.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O REDMILE GROUP, LLC ONE LETTERMAN</rptOwnerStreet1>
            <rptOwnerStreet2>DRIVE, BUILDING D SUITE D3-300</rptOwnerStreet2>
            <rptOwnerCity>SAN FRANCISCO</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94129</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>0</aff10b5One>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Pre-Funded Warrants</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F2"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2025-10-27</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>3846153</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>3.90</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2025-10-27</value>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F3"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Share</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>3846153</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3846153</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnotes</value>
                    <footnoteId id="F4"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Pre-Funded Warrants</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F2"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2025-10-27</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>3846153</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>3.90</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2025-10-27</value>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F3"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Share</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>3846153</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3846153</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F5"/>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">RedCo II Master Fund, L.P. (&quot;RedCo II&quot;) acquired the reported pre-funded warrants to purchase Common Shares (the &quot;Pre-Funded Warrants&quot;) in a private placement by the Issuer pursuant to the terms of a securities purchase agreement, dated October 12, 2025 (the &quot;Purchase Agreement&quot;), by and among the Issuer and RedCo II. The purchase price per Pre-Funded Warrants is $3.90, which is the price per Common Share in the private placement minus the exercise price per Pre-Funded Warrant. The closing of the private placement occurred on October 27, 2025 following the satisfaction of the closing conditions.</footnote>
        <footnote id="F2">The exercise price of the Pre-Funded Warrants is CHF 0.08 per Pre-Funded Warrant Share. Based on the October 12, 2025 exchange rate of approximately $1.25 to CHF 1.00, the exercise price of the Pre-Funded Warrants in US Dollars as of October 12, 2025 was approximately $0.10.</footnote>
        <footnote id="F3">The Pre-Funded Warrants are exercisable by the holder at any time on or after the closing date of the private placement until the tenth anniversary of such closing date, subject to a 9.99% beneficial ownership blocker. At any time during the last 90 days of the term of the Pre-Funded Warrants, the holder thereof may exchange a Pre-Funded Warrant with the Issuer for a new Pre-Funded Warrant to purchase the number of Pre-Funded Warrant Shares then remaining under such Pre-Funded Warrant, with a subsequent ten-year exercise period.</footnote>
        <footnote id="F4">These reported securities are directly owned by RedCo II. Redmile Group, LLC (&quot;Redmile&quot;) may be deemed to beneficially own the reported securities as the investment manager of RedCo II. The reported securities may also be deemed beneficially owned by Jeremy Green as the principal of Redmile. Redmile and Mr. Green disclaim beneficial ownership of the reported securities except to the extent of its and his respective pecuniary interest therein, if any. This report shall not be deemed an admission that Redmile or Mr. Green is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.</footnote>
        <footnote id="F5">These reported securities are directly owned by RedCo II and this transaction is a repetition of the same transaction disclosed in the row above to disclose this fund's direct ownership.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>By: /s/ Jeremy Green, Managing Member of Redmile Group, LLC</signatureName>
        <signatureDate>2025-10-28</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Jeremy Green, Managing Member of RedCo II (GP), LLC, the General Partner of RedCo II Master Fund, L.P.</signatureName>
        <signatureDate>2025-10-28</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Jeremy Green</signatureName>
        <signatureDate>2025-10-28</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
