BioCentury
ARTICLE | Financial News

Chinese antibody play Adagene raises $28M

January 29, 2016 2:29 AM UTC

Adagene Inc. (Suzhou, China) raised $28 million in a series B round led by new investor GP Healthcare Capital. Also participating were new investor New World TMT and existing investors Eight Roads Ventures China (formerly Fidelity Growth Partners Asia), F-Prime Capital (formerly Fidelity Biosciences) and WuXi Venture Fund, the investment arm of New WuXi Life Science Ltd. (Shanghai, China).

Adagene is using its Dynamic Precision Library (DPL) technology to generate and develop mono-specific and bi-specific antibodies. It said it aims to target previously unaddressable antigens by engineering antibody-based therapeutics endowed with "favorable attributes to the product profile and development process." The platform was formerly known as Smart Antibody Technology. ...