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Adagene is a clinical-stage biopharmaceutical company developing novel antibody-based cancer immunotherapies, with dual headquarters in Suzhou, China, and San Diego, California. The enterprise utilizes proprietary artificial intelligence platforms to design mono and bispecific antibodies that target oncology antigens with improved safety and efficacy profiles. Operating with a workforce of approximately 150 to 200 employees, the firm secured $155 million across five venture capital rounds before raising an additional $143 million in net proceeds during its February 2021 Nasdaq initial public offering. The business generates revenue through strategic research partnerships and out-licensing agreements, backed by major institutional investors such as General Atlantic and WuXi AppTec. Its clinical pipeline and commercialization efforts are further supported by exclusive licensing collaborations with global pharmaceutical corporations including Sanofi and Exelixis. Adagene was originally founded in 2011 by Dr. Peter Luo.
Adagene has raised $155.0M across 4 funding rounds.
Adagene has raised $155.0M in total across 4 funding rounds.
Adagene has raised $155.0M across 4 funding rounds. Most recently, it raised $69.0M Series D in January 2020.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jan 1, 2020 | $69M Series D | General Atlantic | Base Partners, DST Global, Carmen Chang, Hans Tung, Paradigm, Sequoia Capital China | Announced |
| Mar 1, 2018 | $50M Series C | Hongshan Capital Group (Sequoia Capital China) | Base Partners, DST Global, Carmen Chang, Hans Tung, Paradigm, Sequoia Capital China, AVIC Trust, Gopher Asset Management, King Star Capital, NEW World TMT | Announced |
| Jan 28, 2016 | $28M Series B | GP Capital | Eight Roads Ventures, F Prime Capital, NEW World TMT, WuXi AppTec | Announced |
| Dec 9, 2014 | $8M Series A | — | Fidelity Management & Research Company, F Prime Capital, Wuxi Venture | Announced |
Adagene is a Nasdaq-listed (ADAG), clinical-stage biotechnology company focused on developing monoclonal antibody drugs for cancer treatment, primarily in China.[1][2] It builds advanced immunotherapy products using proprietary platforms like NEObody™, SAFEbody®, and POWERbody™, which leverage computational biology and AI to create antibodies with novel mechanisms of action (MOAs) that enhance efficacy and safety in the tumor microenvironment (TME).[1] Key assets include ADG126 (masked anti-CTLA-4 SAFEbody® in Phase 1b/2 for cancer), ADG116 (anti-CTLA-4 in Phase 1b/2 for solid tumors), ADG106 (CD137 agonist), and others like ADG206, ADG104 (anti-PD-L1 in Phase 2), and ADG125 (anti-CSF-1R in Phase 2).[1][2] These serve oncology patients and partners, solving problems of toxicity and limited efficacy in existing immunotherapies by targeting unique epitopes and enabling precision activation.[1] Despite low revenue ($103k TTM) and losses ($29.89m), it maintains strong financial health and global partnerships.[2]
Founded and led by world-class experts in antibody discovery and engineering, Adagene emerged to tackle unmet needs in cancer immunotherapy where prior treatments failed.[1] Its backstory centers on pioneering dynamic precision antibody technologies, starting with the Dynamic Precision Library discovery engine that integrates AI and computational biology for rational antibody design.[1] Early traction came from building a pipeline of "first or best in class" assets and securing partnerships with global firms for applications like precision-guided antibody-drug conjugates.[1] As a clinical-stage player, pivotal moments include advancing multiple programs into Phase 1b/2 and Phase 2 trials, positioning it as a Nasdaq-listed innovator.[1][2]
Adagene stands out through its Dynamic Precision Antibody Technology platform, which addresses key immunotherapy challenges:
This tech-driven approach differentiates it from traditional antibody developers.[1]
Adagene rides the precision oncology wave, capitalizing on AI and computational tools to revolutionize antibody design amid rising demand for safer, more effective cancer immunotherapies.[1] Timing aligns with surging interest in novel MOAs like CTLA-4 and PD-L1 targets, where market forces favor bispecifics, masked antibodies, and TME-activated drugs to improve response rates beyond checkpoint inhibitors.[1][2] Its China-based operations tap into Asia's biotech boom, while Nasdaq listing and global ties amplify influence; it shapes the ecosystem by licensing tech for antibody-drug conjugates and inspiring AI-biology convergence in drug discovery.[1]
Adagene's pipeline momentum, with multiple Phase 2 assets and strong financial health, positions it for potential breakthroughs in solid tumor treatments.[2] Next steps likely include trial readouts (e.g., ADG126, ADG116) and partnership expansions, fueled by AI advancements in protein engineering.[1] Trends like TME-targeted therapies and combo regimens will propel growth, evolving its role from innovator to ecosystem leader—echoing its mission to redefine antibodies and bring hope to cancer patients.[1]
Adagene has raised $155.0M in total across 4 funding rounds.
Adagene's investors include General Atlantic, Base Partners, DST Global, Carmen Chang, Hans Tung, Paradigm, Sequoia Capital China, Hongshan Capital Group (Sequoia Capital China), AVIC Trust, Gopher Asset Management, King Star Capital, New World TMT.
