<SEC-DOCUMENT>0001104659-25-078614.txt : 20250814
<SEC-HEADER>0001104659-25-078614.hdr.sgml : 20250814
<ACCEPTANCE-DATETIME>20250814161534
ACCESSION NUMBER:		0001104659-25-078614
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250814
DATE AS OF CHANGE:		20250814

SUBJECT COMPANY:	

	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

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-91517
		FILM NUMBER:		251219336

	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

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Redmile Group, LLC
		CENTRAL INDEX KEY:			0001425738
		ORGANIZATION NAME:           	
		EIN:				208592298
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A

	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
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>SCHEDULE 13G/A</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <!-- Field: Pseudo-Tag; ID: Name; Data: Redmile Group, LLC -->
          <cik>0001425738</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <amendmentNo>5</amendmentNo>
      <securitiesClassTitle>Common Shares, par value CHF 0.08 per share</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>06/30/2025</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0001771910</issuerCik>
        <issuerName>ADC Therapeutics SA</issuerName>
        <issuerCusip>H0036K147</issuerCusip>
        <issuerPrincipalExecutiveOfficeAddress>
          <com:street1>Biopole</com:street1>
          <com:street2>Route de la Corniche 3B</com:street2>
          <com:city>Epalinges</com:city>
          <com:stateOrCountry>V8</com:stateOrCountry>
          <com:zipCode>1066</com:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(c)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Redmile Group, LLC</reportingPersonName>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>15666731.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>15666731.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>15666731.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>14.0</classPercent>
      <typeOfReportingPerson>IA</typeOfReportingPerson>
      <typeOfReportingPerson>OO</typeOfReportingPerson>
      <comments>Redmile Group, LLC's beneficial ownership of the Issuer's common shares ("Common Stock") is comprised of 15,666,731 shares of Common Stock owned by certain private investment vehicles managed by Redmile Group, LLC (collective, the "Redmile Clients"), including RedCo II Master Fund, L.P. ("RedCo II"), which shares of Common Stock may be deemed beneficially owned by Redmile Group, LLC as investment manager of the Redmile Clients. The reported securities may also be deemed beneficially owned by Jeremy C. Green as the principal of Redmile Group, LLC. Redmile Group, LLC and Mr. Green each disclaim beneficial ownership of these shares, except to the extent of its or his pecuniary interest in such shares, if any.

Percentage based on the sum of (i) 99,178,286 shares of Common Stock outstanding as of May 1, 2025, as reported by the Issuer in its Form 10-Q for the quarterly period ended March 31, 2025 filed with the Securities and Exchange Commission (the "SEC") on May 14, 2025 (the "Form 10-Q"); plus (ii) 13,031,161 shares of Common Stock issued by the Issuer in a private placement as of June 16, 2025, as reported by the Issuer in its Form 8-K filed with the SEC on June 12, 2025 (the "Form 8-K").</comments>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Jeremy C. Green</reportingPersonName>
      <citizenshipOrOrganization>X0</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>15666731.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>15666731.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>15666731.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>14.0</classPercent>
      <typeOfReportingPerson>HC</typeOfReportingPerson>
      <typeOfReportingPerson>IN</typeOfReportingPerson>
      <comments>Jeremy C. Green's beneficial ownership of the Common Stock is comprised of 15,666,731 shares of Common Stock owned by the Redmile Clients, including RedCo II, which shares of Common Stock may be deemed beneficially owned by Redmile Group, LLC as investment manager of the Redmile Clients. The reported securities may also be deemed beneficially owned by Jeremy C. Green as the principal of Redmile Group, LLC. Redmile Group, LLC and Mr. Green each disclaim beneficial ownership of these shares, except to the extent of its or his pecuniary interest in such shares, if any.

Percentage based on the sum of (i) 99,178,286 shares of Common Stock outstanding as of May 1, 2025, as reported by the Issuer in the Form 10-Q; plus (ii) 13,031,161 shares of Common Stock issued by the Issuer in a private placement as of June 16, 2025, as reported by the Issuer in the Form 8-K.</comments>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>RedCo II Master Fund, L.P.</reportingPersonName>
      <citizenshipOrOrganization>E9</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>13145712.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>13145712.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>13145712.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>11.7</classPercent>
      <typeOfReportingPerson>PN</typeOfReportingPerson>
      <typeOfReportingPerson>FI</typeOfReportingPerson>
      <comments>Percentage based on the sum of (i) 99,178,286 shares of Common Stock outstanding as of May 1, 2025, as reported by the Issuer in the Form 10-Q; plus (ii) 13,031,161 shares of Common Stock issued by the Issuer in a private placement as of June 16, 2025, as reported by the Issuer in the Form 8-K.</comments>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>ADC Therapeutics SA</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>Biopole, Route de la Corniche 3B, 1066 Epalinges, Switzerland</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>Redmile Group, LLC
Jeremy C. Green
RedCo II Master Fund, L.P.</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>Redmile Group, LLC
One Letterman Drive
Building D, Suite D3-300
The Presidio of San Francisco
San Francisco, California 94129

Jeremy C. Green
c/o Redmile Group, LLC (NY Office)
45 W. 27th Street, Floor 11
New York, NY 10001

RedCo II Master Fund, L.P.
c/o Redmile Group, LLC
One Letterman Drive
Building D, Suite D3-300
The Presidio of San Francisco
San Francisco, California 94129</principalBusinessOfficeOrResidenceAddress>
        <citizenship>Redmile Group, LLC: Delaware
Jeremy C. Green: United Kingdom
RedCo II Master Fund, L.P.: Cayman Islands</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>Y</notApplicableFlag>
      </item3>
      <item4>
        <amountBeneficiallyOwned>Redmile Group, LLC - 15,666,731 (1)
Jeremy C. Green - 15,666,731 (1)
RedCo II Master Fund, L.P. - 13,145,712 (2)</amountBeneficiallyOwned>
        <classPercent>Redmile Group, LLC - 14.0% (3)
Jeremy C. Green - 14.0% (3)
RedCo II Master Fund, L.P. - 11.7% (3)</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>Redmile Group, LLC - 0
Jeremy C. Green - 0
RedCo II Master Fund, L.P. - 0</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>Redmile Group, LLC - 15,666,731 (1)
Jeremy C. Green - 15,666,731 (1)
RedCo II Master Fund, L.P. - 13,145,712 (2)</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>Redmile Group, LLC - 0
Jeremy C. Green - 0
RedCo II Master Fund, L.P. - 0</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>Redmile Group, LLC - 15,666,731 (1)
Jeremy C. Green - 15,666,731 (1)
RedCo II Master Fund, L.P. - 13,145,712 (2)

(1) The shares of the Issuer's Common Stock reported herein are held by certain Redmile Clients, including RedCo II, for which Redmile Group, LLC is the investment manager/adviser and, in such capacity, exercises voting and investment power over all of the shares of Common Stock held by the Redmile Clients and may be deemed to be the beneficial owner of these shares. Jeremy C. Green serves as the principal of Redmile Group, LLC and also may be deemed to be the beneficial owner of these shares. Redmile Group, LLC and Mr. Green each disclaim beneficial ownership of these shares, except to the extent of its or his pecuniary interest in such shares, if any. The shares of Common Stock beneficially owned by Redmile Group, LLC and Mr. Green exclude 23,897,532 shares issuable upon the exercise of the pre-funded warrants held by certain Redmile Clients, including RedCo II, as such warrants include a provision that a holder is prohibited from exercising such warrants to the extent that, upon such exercise, the shares of Common Stock then beneficially owned by the holder and its affiliates and any other person or entity with whom the exercising holder's beneficial ownership would be aggregated for purposes of Section 13(d) under the Securities Exchange Act of 1934, as amended (the "Act"), would exceed 9.99% of the total number of shares of Common Stock outstanding immediately after giving effect to such exercise.

(2) The shares of Common Stock beneficially owned by RedCo II exclude 18,599,071 shares issuable upon the exercise of the pre-funded warrants held by RedCo II, as such warrants include a provision that a holder is prohibited from exercising such warrants to the extent that, upon such exercise, the shares of Common Stock then beneficially owned by the holder and its affiliates and any other person or entity with whom the exercising holder's beneficial ownership would be aggregated for purposes of Section 13(d) under the Act, would exceed 9.99% of the total number of shares of Common Stock outstanding immediately after giving effect to such exercise.

(3) Percentage based on the sum of (i) 99,178,286 shares of Common Stock outstanding as of May 1, 2025, as reported by the Issuer in the Form 10-Q; plus (ii) 13,031,161 shares of Common Stock issued by the Issuer in a private placement as of June 16, 2025, as reported by the Issuer in the Form 8-K.</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>Y</notApplicableFlag>
      </item5>
      <item6>
        <notApplicableFlag>Y</notApplicableFlag>
      </item6>
      <item7>
        <notApplicableFlag>N</notApplicableFlag>
        <subsidiaryIdentificationAndClassification>See the response to Item 4.</subsidiaryIdentificationAndClassification>
      </item7>
      <item8>
        <notApplicableFlag>Y</notApplicableFlag>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.</certifications>
      </item10>
    </items>
    <signatureInformation>
      <reportingPersonName>Redmile Group, LLC</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Jeremy C. Green</signature>
        <title>Managing Member</title>
        <date>08/14/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Jeremy C. Green</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Jeremy C. Green</signature>
        <title>Jeremy C. Green</title>
        <date>08/14/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>RedCo II Master Fund, L.P.</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Jeremy C. Green</signature>
        <title>Managing Member of RedCo II (GP), LLC, general partner of RedCo II Master Fund, L.P.</title>
        <date>08/14/2025</date>
      </signatureDetails>
    </signatureInformation>
  </formData>
</edgarSubmission>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
