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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) reported financial results for H1 2024 and provided corporate updates. Highlights include:
1. ADG126, a masked anti-CTLA-4 SAFEbody, shows potential best-in-class profile in combination with pembrolizumab.
2. Poster presentation planned at ESMO Congress 2024 for ADG126 in metastatic MSS colorectal cancer.
3. Cash balance of $95.7 million funds operations into 2026.
4. Net revenue was nil for H1 2024, compared to $17.3 million in H1 2023.
5. R&D expenses decreased 31% to $14.7 million in H1 2024.
6. Net loss was $17.0 million in H1 2024, compared to $4.1 million in H1 2023.
7. Non-GAAP net loss was $14.5 million in H1 2024.
Adagene has announced a poster presentation at the European Society for Medical Oncology (ESMO) Congress, scheduled for 13-17 September 2024 in Barcelona, Spain.
The presentation will highlight results from an ongoing phase 1b/2 trial of their masked anti-CTLA-4 SAFEbody, ADG126 (muzastotug), in combination with pembrolizumab. The trial focuses on treating patients with metastatic microsatellite stable colorectal cancer (MSS CRC). The poster, titled 'Increased Therapeutic Index of Muzastotug (Muza, ADG126), a Masked Anti-CTLA-4 SAFEbody, in Combination with Pembrolizumab (Pembro) Enables Significant Clinical Benefits and Supports Further Clinical Development in Patients with Metastatic MSS CRC', will be available on Adagene's website following ESMO's embargo policy.
Adagene (Nasdaq: ADAG) will participate in multiple investor conferences in June 2024. CEO and Chairman, Peter Luo, Ph.D., will provide company updates, particularly on the ADG126 SAFEbody® anti-CTLA-4 progress. The Jefferies Global Healthcare Conference in New York City is scheduled for June 5, followed by the Goldman Sachs 45th Annual Global Healthcare Conference in Miami on June 13. Lastly, the HC Wainwright 2nd Annual Immune Cell Engager Virtual Conference will be held on June 25. Investors can access live webcasts and replays on Adagene's website.
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