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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 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.
Adagene Inc. (Nasdaq: ADAG), a clinical-stage biopharmaceutical company, announced that its CEO, Peter Luo, Ph.D., will present at two upcoming conferences: the Jefferies Virtual Healthcare Conference on June 4, 2021, and the Goldman Sachs 42nd Annual Global Healthcare Conference on June 10, 2021. At these events, Adagene will discuss its innovative approaches in antibody-based cancer immunotherapies using its proprietary DPL platform, which includes NEObody, SAFEbody, and POWERbody technologies.
Adagene Inc. (Nasdaq: ADAG) announced positive Phase I clinical trial results for its anti-CD137 antibody, ADG106, showcasing a favorable safety profile and promising efficacy in patients with advanced solid tumors and non-Hodgkin lymphoma. Key findings include a 56% disease control rate and significant tumor shrinkage (over 30%) in 75% of biomarker-positive patients. The company plans to enhance patient stratification using the identified predictive biomarker in upcoming trials. ADG106's innovative design leverages Adagene's proprietary NEObody platform, aiming for future advancements in precision immuno-oncology.
Adagene Inc. has successfully completed its Initial Public Offering, raising approximately US$161 million in gross proceeds. The company reported a 46% increase in net revenue for 2020, totaling US$0.7 million, while research and development expenses surged by 107% to US$33.5 million. The net loss attributable to shareholders increased by 158%, reaching US$42.4 million. Adagene is advancing its NEObody™ and SAFEbody™ programs, initiating clinical trials and establishing partnerships to enhance its pipeline.
Adagene Inc. (Nasdaq: ADAG) announced encouraging results from its ongoing Phase 1 trial of ADG116, a novel anti-CTLA-4 monoclonal antibody for advanced solid tumors. Interim data show ADG116 is well-tolerated, with no dose-limiting toxicities and significant pharmacodynamic signals indicating immune activation. A patient previously resistant to pembrolizumab showed notable immune responses. The trial has progressed to a 0.3 mg/kg dose level, with plans for global expansion and acceptance of a revised protocol by the FDA and China's NMPA. These developments position ADAG for potential market growth.
Adagene Inc. (Nasdaq: ADAG) has initiated its global Phase 1 clinical trial of ADG126, a monoclonal antibody targeting CTLA-4, for advanced solid tumors. This milestone follows the dosing of the first patients and aims to assess the drug's safety and efficacy. The trial will evaluate five dosing levels and has FDA approval for U.S. sites. ADG126 utilizes SAFEbody technology to enhance safety and therapeutic effectiveness by activating antibodies in the tumor microenvironment, addressing the safety concerns of existing CTLA-4 therapies.
Adagene Inc. (Nasdaq: ADAG) has successfully closed its initial public offering (IPO) of 8,457,100 American depositary shares (ADSs) priced at $19.00 each, raising approximately $161 million in gross proceeds. This includes the full exercise of the underwriters’ option for an additional 1,103,100 ADSs. The ADSs began trading on February 9, 2021. The company focuses on developing antibody-based cancer immunotherapies using advanced technologies. Goldman Sachs, Morgan Stanley, and Jefferies acted as joint bookrunners for the offering.
Adagene Inc. (Nasdaq: ADAG) has priced its initial public offering (IPO) at US$19.00 per American depositary share (ADS), raising approximately US$140 million. The IPO consists of 7,354,000 ADSs and will begin trading on February 9, 2021. The offering will close on February 11, 2021, pending customary conditions. Underwriters have a 30-day option to purchase an additional 1,103,100 ADSs for over-allotments. Goldman Sachs, Morgan Stanley, and Jefferies are the lead underwriters of this offering.
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