Adagene Raises $69M in Series D Financing
Summary
The round was led by General Atlantic (which made a $50m investment). The company intends to use the funds to continue developing its lead clinical programs, ADG106 and ADG116, while extending its technology. Led by Peter Luo, Ph.D., Co-founder and Chief Executive Officer, Adagene is a biotechnology company that leverages Dynamic Precision Library platform, combined with its founders and management team, to advance assets ADG106, is a human agonistic anti-CD137 monoclonal IgG4 antibody that targets a unique conserved epitope of CD137 and is cross-reactive across human, monkey and mouse. It is being evaluated in an ongoing Phase 1 clinical trial in the U.S. and China in patients with advanced or metastatic solid and liquid tumors. It has a novel mechanism of action including dynamic modulation of CTLA-4 by soft ligand blocking and highly effective depletion of regulatory T cells.
Funding
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