10th CAR-TCR Post Conference Presentation

At World ADC San Diego, industry leaders, innovators, and scientists came together to explore the accelerating growth of the Antibody-Drug Conjugate (ADC) market. Hanson Wade’s exclusive reports — “Deep Diving into the Next Wave of ADCs” and “Analysing the ADC Boom” — distil the key trends shaping the next generation of ADC innovation and commercialization.

Our insights reveal not only where the ADC field is heading, but how companies can best position themselves to thrive in a landscape defined by rapid scientific progress, expanding pipelines, and intensified investment activity.

Report 1: Deep Diving into the Next Wave of ADCs

Key Highlights

• Breakout Growth in Novel Conjugates
  Novel antibody-based drug conjugates are expanding at an unprecedented pace, growing 187% annually—far outpacing traditional ADCs. Bispecific ADCs lead this wave, now representing over 50% of all next-generation constructs and driving the strongest preclinical and clinical momentum.
• Bispecific ADCs Advance Into Late-Stage Development
  With 70 new BsADCs disclosed in 2025, 17 entering the clinic, and 17 active Phase 3 trials, bispecific ADCs have become the most clinically mature novel modality. China and the U.S. dominate development, with new target pairs and combination regimens fueling competitive acceleration.
• AOCs, DACs & Dual-Payload ADCs Hit Major Milestones
  Together accounting for 45% of antibody-based novel ADCs, these modalities show diverging but meaningful progress: AOCs are gaining regulatory designations and nearing first approvals; DACs push into intracellular targets with next-gen degrader payloads; and dual-payload ADCs reached a major inflection point with the first two programs entering clinical trials in 2025.
• Innovation Surge Reflected in Patent Activity
  Q3 2025 alone saw 674 patents published across novel conjugates, with nearly 1,000 unique targets identified—71% entirely new to ADC development. Dual-payload ADCs show the strongest patent grant rates, underscoring high novelty and emerging commercial opportunity.

Report 2: Analysing the ADC Boom

Key Highlights

• Record Pipeline Expansion: Over 2,200 ADCs now disclosed, with nearly half in preclinical development — the broadest and fastest-growing ADC pipeline to date.
• Evolving Modalities: The rapid rise of bispecific and dual-payload ADCs, featuring 278 bispecific assets and 200 unique payload mechanisms, marks a major leap in design sophistication.
• Sustained Investment Momentum: More than 1,000 active developers worldwide have collectively raised over $3B since 2020, underscoring continued investor confidence and sector vitality.
• Global Leadership Shift: Asia-Pacific now leads in ADC patent activity, with China driving a sevenfold increase in filings and reshaping the global innovation landscape.