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Adagene Inc. (Nasdaq: ADAG) is a platform-driven, clinical-stage biotechnology company specializing in the discovery and development of novel antibody-based cancer immunotherapies. Co-founded by two serial entrepreneurs, Adagene aims to become a leader in antibody discovery and engineering. The company has developed a proprietary Dynamic Precision Library (DPL), showcasing its capabilities through a unique pipeline of innovative antibody therapeutics advancing into clinical trials.
The company's proprietary technologies, including NEObody™, SAFEbody®, and POWERbody™, enable the design of therapeutic antibody candidates with functional epitopes and cross-reactivity across species. These innovations are particularly focused on cancer immunotherapy, where Adagene’s pipeline features monoclonal antibody drugs targeting various cancers.
Adagene has raised over $86 million through three series of financing, with significant investments from F-Prime Capital, Eight Roads Ventures China, 6 Dimensions Capital, GP Healthcare Capital, Sequoia China, and New World TMT. The company utilizes computational biology and artificial intelligence to address unmet patient needs, striving to transform the discovery and development of therapies with enhanced safety and efficacy profiles.
One of Adagene’s key advancements is the development of ADG126, a masked anti-CTLA-4 SAFEbody, which is currently in clinical trials. Recent data highlighted no dose-limiting toxicities and compelling safety when combined with anti-PD-1 therapy. The results indicated tumor shrinkage in cold tumors and partial responses in multiple tumor types. Another notable candidate, ADG116, an unmasked anti-CTLA-4 NEObody, has also shown promising safety and anti-tumor activity in clinical trials.
Adagene’s strategic collaborations with global biopharmaceutical companies, including Roche, Sanofi, and Exelixis, emphasize the commercial potential of its antibody technologies. These partnerships leverage Adagene's platform for developing advanced therapies, including antibody-drug conjugates and bispecific antibodies, addressing a wide range of cancer types.
Financially, Adagene reported a cash balance of $143.8 million at the end of 2022, supporting streamlined operations into 2025. The company continues to prioritize its clinical programs and collaborations, aiming to maximize the therapeutic potential of its proprietary technologies.
For more information, please visit Adagene’s investor website.
Adagene Inc. (Nasdaq: ADAG) announced the presentation of promising preclinical data for its antibody candidates ADG153 (anti-CD47 SAFEbody) and ADG152 (CD20xCD3 POWERbody). These candidates aim to tackle development challenges in immuno-oncology. Notable performance includes ADG153's strong anti-tumor activity with minimal liabilities and ADG152 showing an enhanced therapeutic index. The results will be presented at the ASH Annual Meeting in December 2021, with implications for potential Investigational New Drug applications.
Adagene has initiated a phase 1b/2 clinical trial of ADG106, an anti-CD137 agonist antibody, in combination with Nivolumab, targeting advanced non-small cell lung cancer (NSCLC). Conducted at the National University Cancer Institute, Singapore, this trial aims to evaluate safety, tolerability, and anti-tumor efficacy in up to 53 patients who have failed prior treatments. The promising pre-clinical results suggest potential for ADG106 to enhance T-cell activity and address resistance to current therapies.
Adagene Inc. (Nasdaq: ADAG) announced on October 21, 2021, that CEO Peter Luo, Ph.D., will provide a corporate update at the Jefferies Virtual China Biotech Summit on October 26, 2021, at 3:00 p.m. Eastern. The online presentation will offer investors insights into Adagene’s advancements in antibody-based immunotherapies. A live webcast will be available on the company’s website, with a replay accessible for at least 30 days. Adagene leverages AI and computational biology to develop novel immunotherapy solutions using its proprietary Dynamic Precision Library platform.
Adagene Inc. (Nasdaq: ADAG), a clinical-stage biopharmaceutical company, announced its participation in the Morgan Stanley 19th Annual Global Healthcare Conference scheduled for September 9-15, 2021. Peter Luo, Co-founder and CEO, will present on September 10, 2021, at 2:00 p.m. Eastern. A live webcast of the presentation will be available on the company's website, with a replay accessible for 30 days. Adagene focuses on antibody-based cancer immunotherapies, leveraging its proprietary Dynamic Precision Library platform to meet unmet patient needs.
Adagene reported significant advancements in its oncology pipeline, establishing three collaborations with Merck for global combination trials involving pembrolizumab. Their lead candidate, ADG106, displayed a 56% disease control rate in monotherapy trials. Additionally, ADG116 and ADG126 are progressing through phase 1 trials, showcasing promising safety profiles. Financially, cash reserves increased to $208.3 million, attributed to a successful IPO. However, the company faced a net loss of $37.2 million for the first half of 2021, up from $18.2 million the previous year.
Adagene Inc. announces a collaboration with Merck to evaluate its product candidate ADG106 in combination with KEYTRUDA for patients with advanced or metastatic malignancies. This third clinical trial, designated ADG106-P2001/KEYNOTE-D12, follows promising Phase I trial data. ADG106, developed using the NEObody platform, targets CD137 to activate the immune response against cancer cells. The study aims to address significant unmet medical needs for patients unresponsive to existing treatments.
Adagene Inc. (Nasdaq: ADAG) announced key appointments to its leadership team, including Steven Fischkoff as interim Chief Medical Officer and new members of its Scientific and Strategic Advisory Board. This team comprises experts with extensive backgrounds in immuno-oncology, aimed at revolutionizing cancer therapeutics. Their experience includes pivotal roles in developing major immunotherapy products. CEO Peter Luo expressed confidence that these appointments will enhance Adagene's capabilities in global clinical development and the advancement of its innovative antibody-based pipeline.
Adagene Inc. (Nasdaq: ADAG) announced a collaboration with Merck to conduct two clinical studies assessing the NEObody™ candidate, ADG116, and the SAFEbody™ candidate, ADG126, combined with KEYTRUDA® for patients with advanced solid tumors. Both studies aim to evaluate the safety and efficacy of these candidates in enhancing therapeutic outcomes while addressing historical safety concerns with CTLA-4 therapies. Preliminary data suggests favorable tolerability and promising early outcomes, marking essential progress in Adagene's clinical development program.
Adagene Inc. (Nasdaq: ADAG) announced a share repurchase program authorizing up to US$20 million in buybacks of its ordinary shares in the form of American depositary shares. This decision reflects the board's strong confidence in the company's innovative pipeline driven by proprietary platforms like NEObody, SAFEbody, and POWERbody. Share repurchases are expected to be conducted in compliance with regulatory requirements and market conditions. The program is set to last for twelve months and aims to enhance shareholder value.
Adagene Inc. (Nasdaq: ADAG) announced its inclusion in the FTSE Global Equity Index Series, effective June 21, 2021. This milestone is expected to enhance the company's visibility among investors and signifies market acceptance. Adagene focuses on developing antibody-based immunotherapies through its proprietary platforms: NEObody, SAFEbody, and POWERbody. FTSE Russell's indexes are used by global institutional investors for performance benchmarking and investment fund creation.
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