SUZHOU, China, Oct. 31, 2018 /PRNewswire/ — Adagene, Inc., an innovative antibody engineering and discovery company, today announced the dosing of its first patient in its Phase I trial in American for its lead product ADG-106, a fully human agonistic monoclonal antibody (mAb) targeting a novel epitope of CD137. Adagene is also announcing a record speed of review and acceptance of their IND in China for ADG-106. Adagene will investigate the safety and efficacy of ADG-106 therapy as a single agent across a range of solid tumor and non-Hodgkin lymphoma patients in the Phase I clinical study.

”I have worked on this target previously and believe 4-1BB agonists have tremendous therapeutic potential in immunotherapy by targeting the costimulatory pathway,“ said Anthony W. Tolcher, M.D., FRCPC, Founder, CEO and Director of Clinical Research at NEXT Oncology (San Antonio, Texas) and an investigator on the trial.”Our team is eager to evaluate ADG-106 because it has shown both excellent safety and efficacy in numerous native preclinical models, and we look forward to assessing the clinical benefit of ADG-106 via its novel mechanism of action that would potentially expand the opportunity for patients to benefit from a novel IO target in both single and combinational therapy.“

”The initiation of a Phase I clinical study of ADG-106 is a pivotal milestone for Adagene and our novel approach to improving cancer care,” said Peter Luo, CEO of Adagene. “Also, we are honored to receive the IND approval from the NMPA (National Medical Products Administration) in an expedited time. We believe it shows their commitment to support drugs with novel biology and mechanism of action. The preclinical evidence shows we are targeting a novel epitope and the antibody behaves very differently compared with the other two monoclonal antibodies previously in the clinic.“

Additional information will be available shortly on the clinical trial at www.clinicaltrials.gov.

About CD-137 (4-1BB)

CD137 or 4-1BB, a member of the tumor necrosis factor (TNF) receptor superfamily is a promising immune-oncology target. Ligation of CD137 induces a co-stimulatory signal on activated CD8+ T cells and natural killer (NK) cells, resulting in proliferation, increased pro-inflammatory cytokine secretion, and cytolytic function. 4‐1BB co-stimulation is the clinically validated pathway for the optimal T cell activation and its anti-tumor response as highlighted by the successful approval of the 4‐1BB-containing CART therapy by the US FDA.

About Adagene

Adagene (Suzhou, China and San Francisco, California) is an innovative antibody engineering and discovery company, by utilizing its proprietary Dynamic Precision Library Platform (DPL), Adagene is showcasing its exceptional antibody engineering capabilities by building franchises of products that are second and third-generation antibodies.

The company’s management team is composed of industry veterans with a proven track record in therapeutic antibody R&D. Adagene is backed by top notch global venture funds such as F-Prime Capital Partners, Eight Roads Ventures, Wuxi Pharmatech Healthcare Fund I L.P., GP Healthcare Capital, New World TMT Ltd and Sequoia China. The company has raised over $85 million through its series A to C financing.

SUZHOU, China, July 9, 2018 /PRNewswire/ — Adagene, Inc., an innovative antibody engineering and discovery company, has received notification from the FDA to proceed on its Investigational New Drug (IND) application to study its lead product (ADG-106) in patients with advanced solid tumors and non-Hodgkin lymphoma.

CD137 or 4-1BB, a member of the tumor necrosis factor (TNF) receptor superfamily is a promising immune-oncology target. Ligation of CD137 induces a co-stimulatory signal on activated CD8+ T cells and natural killer (NK) cells, resulting in proliferation, increased pro-inflammatory cytokine secretion, and cytolytic function. CD137 is also thought of as an attractive target for autoimmune disease as T regulatory cells (Tregs) also express 4-1BB. ADG-106 is a fully human agonistic mAb targeting a novel epitope of CD137. Adagene will investigate the safety and efficacy of ADG-106 therapy as a single agent across a range of solid tumor and non-Hodgkin lymphoma patients in a Phase I clinical study expected to commence in the second half of 2018.

“ADG-106 is targeting a different epitope of CD137 compared with the other two therapeutic antibodies against this target in early clinical trials”, said Peter Luo, CEO and Co-Founder of Adagene. “Our proprietary Dynamic Precision Library was able to generate an antibody that targets a unique epitope with cross-reactivity, enabling robust translational studies in both efficacy and safety. ADG-106 is the only monoclonal antibody against this target that has demonstrated potent single agent efficacy in multiple tumor models with intact immune system and work in synergy with other therapeutics, while maintaining an excellent safety profile at extremely high dose. We look forward to starting our clinical trial in the United States soon.”

About Adagene

Adagene (Suzhou, China and San Francisco, California) is an innovative antibody engineering and discovery company, by utilizing its proprietary Dynamic Precision Library Platform (DPL), Adagene is showcasing its exceptional antibody engineering capabilities by building franchises of products that are second and third-generation antibodies.

The company’s management team is composed of industry veterans with proven track record in therapeutic antibody R&D. Adagene is backed by top notch global venture funds such as F-Prime Capital Partners, Eight Roads Ventures, Wuxi Pharmatech Healthcare Fund I L.P., GP Healthcare Capital, New World TMT Ltd and Sequoia China. The company has raised over $85 million through its series A to C financing.

SUZHOU, China, March. 26, 2018 /PRNewswire/ — Adagene Inc., a leading antibody discovery and development company, today announced a $50 million Series C financing, led by Sequoia China, and backed by New World TMT, AVIC Trust, King Star Capital, Gopher Asset Management as well as other investors. The round was oversubscribed.

“Adagene is built on a proprietary discovery engine that we have leveraged to discover highly differentiated portfolio of agonist and antagonist therapeutic antibodies,” said co-founder and CEO, Dr. Peter Luo, “The funds from this round of financing will be used to advance novel antibody therapeutics into human trials across the globe. The antibodies discovered from our Dynamic Precision Library [DPL] platform enable translational research of our therapeutic leads on the intact immune system of highly predictive preclinical models.”

“Adagene’s portfolio of core technologies and R&D team allows it to leverage its in-house DPL platform to fuel substantial value inflection in the near term. Its asset reflects the innovation originated from China,“ said Neil Shen, Founding & Managing Partner of Sequoia China, “By leading the investment round, Sequoia China aims to help provide Adagene with the ability to drive long term growth, as well as better the discovery of novel antibodies and next generation therapeutics through the continued productivity of its discovery engine.”

“Adagene has successfully transformed from a platform to a biopharmaceutical company with drugs entering clinical trials. The entrepreneurial and seasoned management team has made major progress in R&D, which has left a deep impression on us. We are eager to see its drugs benefit patients around the world,” said Albert Wong, CEO of New World TMT Ltd. a member of the New World Group (one of Hong Kong’s blue chip conglomerates listed on the HK Stock Exchange, code: 17), was also a participant in the Series C. “New World TMT Ltd, had previously participated in the Series B round financing and we are honored to continue our investment by participating in the C round as well.”

“Eight Roads Ventures have been early investors in Adagene, and we continue to enthusiastically support Adagene as it is now realizing its promise of delivering differentiated and novel therapeutics invented in China for the World,” said Daniel Auerbach, Senior Managing Partner, Asia, at Eight Roads Ventures.

About Adagene

Adagene was co-founded by two serial entrepreneurs to power antibody discovery. Its aim is to become the leading player in antibody discovery and engineering. It has developed a proprietary dynamic precision library (DPL) and is showcasing the power of the library with a unique pipeline of innovative antibody therapeutics that is advancing into clinical trials. Adagene previously has raised two series of financing with over $36 million. Investors include F-Prime Capital (formerly Fidelity Biosciences), Eight Roads Ventures China (formerly Fidelity Growth Partners Asia), 6 Dimensions Capital, GP Healthcare Capital and New World TMT. For more information, please visit test.adagene.com.

About Sequoia China

The Sequoia team helps daring founders build legendary companies. In partnering with Sequoia, companies benefit from our unmatched community and the lessons we’ve learned over 46 years working with Apple, Cisco, Oracle, Google, Alibaba, Airbnb and JD.com among many others. As “The Entrepreneurs Behind The Entrepreneurs”, Sequoia China focuses on four sectors: TMT, healthcare, consumer/service, and industrial technology. Over the past 13 years we’ve had the privilege of working with more than 500 companies in China. For more information, visit www.sequoiacap.com/china/en.

About New World TMT Ltd

New World TMT Ltd (NWTMT) is the telecom, media and technology business management arm of the New World Group, one of Hong Kong’s blue chip conglomerates. Comprising three operational areas – Telecom, Media and Technology – NWTMT invests and operates in innovative telemedia enterprises in China and the Asia Pacific region.

New World TMT is positioned to benefit from regional liberalization initiatives and technological advancement. By way of providing management support, strategic partnerships and capital, the company aims to maximize returns and create shareholder value for a portfolio of enterprises in which NWTMT has significant equity interest.

About AVIC Trust

AVIC Trust Co., Ltd is a joint-stock and non-bank financial intermediary approved by the China Banking Regulatory Commission (CBRC), and a foreign-investment enterprise authorized by Commerce Department. The company was jointly set up by the large-scale state-owned enterprise, Aviation Industry Corporation of China (AVIC), and overseas strategic investor, Oversea-Chinese Banking Corporation Ltd (OCBC), etc. Company’s registered capital is 4.657 billion Yuan.

About Gopher Asset Management

Gopher Asset Management Co., Ltd. was founded in March 2010 as a subsidiary of Noah Holdings Limited (NYSE: NOAH), and has become one of the leading alternative asset managers in China, specializing in fund-of-funds management in the private equity, real estate, hedge funds, credit products and family office businesses. Total assets under management as of December 31, 2017 were RMB148.3 billion (US$22.8 billion).

Adagene Inc., an emerging biotech company discovering and developing innovative antibody therapeutics for the global market, and WuXi Biologics (2269.HK), a leading global open-access biologics technology platform company offering end-to-end solutions for biologics discovery, development and manufacturing, today announced a strategic collaboration agreement.

Adagene, WuXi Biologics

Adagene is building a global biotech company with an internal pipeline of antibody therapeutics focused on difficult antigens, and therapeutic candidates with enhanced biophysical properties. The collaboration with WuXi Biologics will support supply of Adagene’s products for clinical trials under Investigational New Drug (IND) applications in both China and United States.

“The strategic collaboration with WuXi Biologics will enable Adagene to focus on our core competency in the discovery of novel antibody therapeutics, and by leveraging the process development and manufacturing capabilities of WuXi Biologics will accelerate Adagene’s next wave of innovative products into the clinic,” said Dr. Peter Luo, Co-Founder and CEO of Adagene.

“We are pleased to work closely with Adagene in developing and manufacturing some urgently-needed antibody therapeutics through the world-class, high-quality biologics platform at WuXi Biologics,” said Dr. Chris Chen, Chief Executive Officer of WuXi Biologics. “The collaboration is expected to introduce the world-class life-saving biologics to the Chinese market, and then benefit patients around the world.”

About Adagene

Adagene was co-founded by two serial entrepreneurs to power antibody discovery. Its aim is to become the leading player in antibody discovery and engineering. It has developed a proprietary dynamic precision library (DPL) and is showcasing the power of the library with a unique pipeline of innovative antibody therapeutics that is advancing into clinical trials. Adagene has raised two series of financing with over $36 million. Investors include F-Prime Capital (formerly Fidelity Biosciences), Eight Roads Ventures China (formerly Fidelity Growth Partners Asia), 6 Dimensions Capital, GP Healthcare Capital and New World TMT. For more information, please visit test.adagene.com.

About WuXi Biologics

WuXi Biologics, a Hong Kong-listed company, is the only open-access biologics technology platform in the world offering end-to-end solutions to empower organizations to discover, develop and manufacture biologics from concept to commercial manufacturing. Our company history and achievements demonstrate our commitment to providing a truly ONE-stop service offering and value proposition to our global clients. For more information on WuXi Biologics, please visit www.wuxibiologics.com.

Media Contacts:

Adagene Inc.
Alex Goergen
1-650-521-7242
alex_goergen@adagene.com

WuXi Biologics
Jia Li
+86-21-2066-4528
li_jia0102@wuxiapptec.com