{"id":755021,"date":"2023-05-04T12:18:11","date_gmt":"2023-05-04T16:18:11","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/adagene-achieves-3-million-milestone-in-collaboration-with-exelixis-for-successful-nomination-of-second-safebody-novel-masked-antibody-drug-conjugate\/"},"modified":"2023-05-04T12:18:11","modified_gmt":"2023-05-04T16:18:11","slug":"adagene-achieves-3-million-milestone-in-collaboration-with-exelixis-for-successful-nomination-of-second-safebody-novel-masked-antibody-drug-conjugate","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/adagene-achieves-3-million-milestone-in-collaboration-with-exelixis-for-successful-nomination-of-second-safebody-novel-masked-antibody-drug-conjugate\/","title":{"rendered":"Adagene Achieves $3 Million Milestone in Collaboration with Exelixis for Successful Nomination of Second SAFEbody\u00ae Novel Masked Antibody-Drug Conjugate"},"content":{"rendered":"
\n

SAN DIEGO and SUZHOU, China, May 04, 2023 (GLOBE NEWSWIRE) — Adagene Inc. (\u201cAdagene\u201d) (Nasdaq: ADAG), a platform-driven, clinical-stage biotechnology company transforming the discovery and development of novel antibody-based therapies today announced achievement of a milestone in its ongoing collaboration with Exelixis for development of novel masked antibody-drug conjugate (ADC) candidates leveraging Adagene\u2019s proprietary SAFEbody precision masking technology.<\/p>\n

Under the terms of a collaboration and licensing agreement<\/a> established in 2021, the milestone triggers a $3 million payment to Adagene for successful nomination of the lead SAFEbody candidates for the second of its collaboration programs.<\/p>\n

\u201cThis milestone reflects our focus on delivering high quality antibody candidates to our technology licensing partners, further validating our platform and world-class antibody engineering expertise,\u201d said\u00a0Peter Luo, Ph.D., Co-founder, Chief Executive Officer, and Chairman of\u00a0Adagene. \u201cOur collaboration with Exelixis also reflects a strong commitment at Adagene to bringing in non-dilutive funding by leveraging our SAFEbody precision masking and dynamic antibody technologies.\u201d<\/p>\n

SAFEbody technology is designed to overcome safety and tolerability challenges associated with many antibody therapeutics by using precision masking technology to shield the binding domain of the biologic therapy. This allows for improved tumor-specific targeting of antibodies, while minimizing on-target off-tumor toxicity in healthy tissues, a longstanding challenge with many antibody therapeutics.<\/p>\n

Under the terms of the agreement,\u00a0Adagene received an upfront payment of\u00a0$11.0 million\u00a0and Exelixis can nominate two targets for development of SAFEbody candidates during the collaboration. Adagene\u00a0is eligible for development and commercialization milestones, as well as royalties on net sales of products developed around each of these targets.<\/p>\n

In January 2022, Adagene received a $3.0 million milestone payment from Exelixis for the successful nomination of lead SAFEbody candidates for one of the collaboration programs, and an additional\u00a0$1.1 million\u00a0upfront payment in\u00a0June 2022.<\/p>\n

Adagene has a network of global technology licensing agreements, including a $2.5 billion collaboration with Sanofi announced in March 2022<\/a>. In addition to ongoing technology licensing collaborations, Adagene applies its SAFEbody technology to develop candidates for its wholly-owned pipeline of transformative antibody-based therapeutics<\/a>. The company also has a clinical collaboration with Roche<\/a>, who is sponsoring and conducting a randomized phase 1b\/2 to evaluate the anti-CTLA-4 SAFEbody ADG126 in combination with atezolizumab and bevacizumab in first-line treatment of advanced hepatocellular carcinoma.<\/p>\n

\n About Adagene<\/strong>\n <\/p>\n

Adagene Inc. (Nasdaq: ADAG) is a platform-driven, clinical-stage biotechnology company committed to transforming the discovery and development of novel antibody-based cancer immunotherapies. Adagene combines computational biology and artificial intelligence to design novel antibodies that address unmet patient needs. Powered by its proprietary Dynamic Precision Library (DPL) platform, composed of NEObody\u2122, SAFEbody\u00ae, and POWERbody\u2122 technologies, Adagene\u2019s highly differentiated pipeline features novel immunotherapy programs. Adagene has forged strategic collaborations with reputable global partners that leverage its technology in multiple approaches at the vanguard of science.<\/p>\n

For more information, please visit:\u00a0https:\/\/investor.adagene.com<\/a>.<\/p>\n

SAFEbody\u00ae<\/sup>\u00a0is a registered trademark in\u00a0the United States,\u00a0China,\u00a0Australia,\u00a0Japan,\u00a0Singapore, and the\u00a0European Union.<\/p>\n

\n Safe Harbor Statement<\/strong>\n <\/p>\n

This press release contains forward-looking statements, including statements regarding the potential benefits and collaborations under the collaboration and license agreement with Exelixis and other licensing agreements, statements regarding the potential implications of clinical data for patients, and Adagene\u2019s advancement of, and anticipated clinical activities, clinical development, regulatory milestones, and commercialization of its product candidates. Actual results may differ materially from those indicated in the forward-looking statements as a result of various important factors, including but not limited to Adagene\u2019s ability to demonstrate the safety and efficacy of its drug candidates; the clinical results for its drug candidates, which may not support further development or regulatory approval; the content and timing of decisions made by the relevant regulatory authorities regarding regulatory approval of Adagene\u2019s drug candidates; Adagene\u2019s ability to achieve commercial success for its drug candidates, if approved; Adagene\u2019s ability to obtain and maintain protection of intellectual property for its technology and drugs; Adagene\u2019s reliance on third parties to conduct drug development, manufacturing and other services; Adagene\u2019s limited operating history and Adagene\u2019s ability to obtain additional funding for operations and to complete the development and commercialization of its drug candidates; Adagene\u2019s ability to enter into additional collaboration agreements beyond its existing strategic partnerships or collaborations, and the impact of the COVID-19 pandemic on Adagene\u2019s clinical development, commercial and other operations, as well as those risks more fully discussed in the \u201cRisk Factors\u201d section in Adagene\u2019s filings with the U.S. Securities and Exchange Commission. All forward-looking statements are based on information currently available to Adagene, and Adagene undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.<\/p>\n


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\n \n <\/div>\n

\n
Investor & Media Contact\r\nAmi Knoefler\r\nAdagene\r\n650-739-9952\r\nir@adagene.com<\/pre>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
SAN DIEGO and SUZHOU, China, May 04, 2023 (GLOBE NEWSWIRE) — Adagene Inc. (\u201cAdagene\u201d) (Nasdaq: ADAG), a platform-driven, clinical-stage biotechnology company transforming the discovery and development of novel antibody-based therapies today announced achievement of a milestone in its ongoing collaboration with Exelixis for development of novel masked antibody-drug conjugate (ADC) candidates leveraging Adagene\u2019s proprietary SAFEbody precision masking technology. Under the terms of a collaboration and licensing agreement established in 2021, the milestone triggers a $3 million payment to Adagene for successful nomination of the lead SAFEbody candidates for the second of its collaboration programs. \u201cThis milestone reflects our focus on delivering high quality antibody candidates to our technology licensing partners, further validating our platform and world-class antibody engineering expertise,\u201d said\u00a0Peter … <\/p>\n
Continue reading “Adagene Achieves $3 Million Milestone in Collaboration with Exelixis for Successful Nomination of Second SAFEbody\u00ae Novel Masked Antibody-Drug Conjugate”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-755021","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nAdagene Achieves $3 Million Milestone in Collaboration with Exelixis for Successful Nomination of Second SAFEbody\u00ae Novel Masked Antibody-Drug Conjugate - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/adagene-achieves-3-million-milestone-in-collaboration-with-exelixis-for-successful-nomination-of-second-safebody-novel-masked-antibody-drug-conjugate\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Adagene Achieves $3 Million Milestone in Collaboration with Exelixis for Successful Nomination of Second SAFEbody\u00ae Novel Masked Antibody-Drug Conjugate - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"SAN DIEGO and SUZHOU, China, May 04, 2023 (GLOBE NEWSWIRE) — Adagene Inc. (\u201cAdagene\u201d) (Nasdaq: ADAG), a platform-driven, clinical-stage biotechnology company transforming the discovery and development of novel antibody-based therapies today announced achievement of a milestone in its ongoing collaboration with Exelixis for development of novel masked antibody-drug conjugate (ADC) candidates leveraging Adagene\u2019s proprietary SAFEbody precision masking technology. Under the terms of a collaboration and licensing agreement established in 2021, the milestone triggers a $3 million payment to Adagene for successful nomination of the lead SAFEbody candidates for the second of its collaboration programs. \u201cThis milestone reflects our focus on delivering high quality antibody candidates to our technology licensing partners, further validating our platform and world-class antibody engineering expertise,\u201d said\u00a0Peter … Continue reading "Adagene Achieves $3 Million Milestone in Collaboration with Exelixis for Successful Nomination of Second SAFEbody\u00ae Novel Masked Antibody-Drug Conjugate"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/adagene-achieves-3-million-milestone-in-collaboration-with-exelixis-for-successful-nomination-of-second-safebody-novel-masked-antibody-drug-conjugate\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-04T16:18:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODgzMTg4OSM1NTc0ODkwIzIyMDQ2ODE=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/adagene-achieves-3-million-milestone-in-collaboration-with-exelixis-for-successful-nomination-of-second-safebody-novel-masked-antibody-drug-conjugate\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/adagene-achieves-3-million-milestone-in-collaboration-with-exelixis-for-successful-nomination-of-second-safebody-novel-masked-antibody-drug-conjugate\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Adagene Achieves $3 Million Milestone in Collaboration with Exelixis for Successful Nomination of Second SAFEbody\u00ae Novel Masked Antibody-Drug Conjugate\",\"datePublished\":\"2023-05-04T16:18:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/adagene-achieves-3-million-milestone-in-collaboration-with-exelixis-for-successful-nomination-of-second-safebody-novel-masked-antibody-drug-conjugate\\\/\"},\"wordCount\":796,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/adagene-achieves-3-million-milestone-in-collaboration-with-exelixis-for-successful-nomination-of-second-safebody-novel-masked-antibody-drug-conjugate\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODgzMTg4OSM1NTc0ODkwIzIyMDQ2ODE=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/adagene-achieves-3-million-milestone-in-collaboration-with-exelixis-for-successful-nomination-of-second-safebody-novel-masked-antibody-drug-conjugate\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/adagene-achieves-3-million-milestone-in-collaboration-with-exelixis-for-successful-nomination-of-second-safebody-novel-masked-antibody-drug-conjugate\\\/\",\"name\":\"Adagene Achieves $3 Million Milestone in Collaboration with Exelixis for Successful Nomination of Second SAFEbody\u00ae Novel Masked Antibody-Drug Conjugate - 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(\u201cAdagene\u201d) (Nasdaq: ADAG), a platform-driven, clinical-stage biotechnology company transforming the discovery and development of novel antibody-based therapies today announced achievement of a milestone in its ongoing collaboration with Exelixis for development of novel masked antibody-drug conjugate (ADC) candidates leveraging Adagene\u2019s proprietary SAFEbody precision masking technology. Under the terms of a collaboration and licensing agreement established in 2021, the milestone triggers a $3 million payment to Adagene for successful nomination of the lead SAFEbody candidates for the second of its collaboration programs. \u201cThis milestone reflects our focus on delivering high quality antibody candidates to our technology licensing partners, further validating our platform and world-class antibody engineering expertise,\u201d said\u00a0Peter … Continue reading \"Adagene Achieves $3 Million Milestone in Collaboration with Exelixis for Successful Nomination of Second SAFEbody\u00ae Novel Masked Antibody-Drug Conjugate\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/adagene-achieves-3-million-milestone-in-collaboration-with-exelixis-for-successful-nomination-of-second-safebody-novel-masked-antibody-drug-conjugate\/","og_site_name":"Market Newsdesk","article_published_time":"2023-05-04T16:18:11+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODgzMTg4OSM1NTc0ODkwIzIyMDQ2ODE=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/adagene-achieves-3-million-milestone-in-collaboration-with-exelixis-for-successful-nomination-of-second-safebody-novel-masked-antibody-drug-conjugate\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/adagene-achieves-3-million-milestone-in-collaboration-with-exelixis-for-successful-nomination-of-second-safebody-novel-masked-antibody-drug-conjugate\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Adagene Achieves $3 Million Milestone in Collaboration with Exelixis for Successful Nomination of Second SAFEbody\u00ae Novel Masked Antibody-Drug Conjugate","datePublished":"2023-05-04T16:18:11+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/adagene-achieves-3-million-milestone-in-collaboration-with-exelixis-for-successful-nomination-of-second-safebody-novel-masked-antibody-drug-conjugate\/"},"wordCount":796,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/adagene-achieves-3-million-milestone-in-collaboration-with-exelixis-for-successful-nomination-of-second-safebody-novel-masked-antibody-drug-conjugate\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODgzMTg4OSM1NTc0ODkwIzIyMDQ2ODE=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/adagene-achieves-3-million-milestone-in-collaboration-with-exelixis-for-successful-nomination-of-second-safebody-novel-masked-antibody-drug-conjugate\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/adagene-achieves-3-million-milestone-in-collaboration-with-exelixis-for-successful-nomination-of-second-safebody-novel-masked-antibody-drug-conjugate\/","name":"Adagene Achieves $3 Million Milestone in Collaboration with Exelixis for Successful Nomination of Second SAFEbody\u00ae Novel Masked Antibody-Drug Conjugate - 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