Adagio Therapeutics Launches With $50M Series A Financing to Advance the Development of Best-in-Class, Broadly Neutralizing Antibodies for Coronavirus Treatment and Prophylaxis
Adagio Therapeutics Launches With $50M Series A Financing to Advance the Development of Best-in-Class, Broadly Neutralizing Antibodies for Coronavirus Treatment and Prophylaxis
07/16/20, 12:06 PM
Location
walthamMoney raised
$50 million
Round Type
series a
Adagio Therapeutics, Inc., today launched with the closing of a $50 million Series A financing, to advance its portfolio of coronavirus antibodies as both therapeutics and prophylactics against SARS-CoV-2 as well as future coronavirus outbreaks. Adagio’s antibody candidates have been uniquely engineered and optimized to provide broad protection against SARS-CoV-2, SARS-CoV-1, and additional circulating bat coronaviruses that virologists are actively monitoring. The company believes these broadly neutralizing antibodies will offer best-in-class potency and coverage against SARS-CoV-2 and protection against future coronavirus outbreaks. Adagio, a spin out of Adimab, LLC, expects this financing to enable the advancement of lead development candidates through IND-enabling studies and into early clinical development
Company Info
Location
waltham, massachusetts, united states
Additional Info
Adagio is developing best-in-class antibodies that can broadly neutralize SARS-CoV-2, SARS-CoV and additional pre-emergent coronaviruses. The company’s portfolio of antibodies has been optimized using Adimab’s industry-leading antibody engineering capabilities and are designed to provide patients and clinicians with an unsurpassed combination of potency, breadth, durable protection (via half-life extension), manufacturability and affordability. Adagio’s portfolio of SARS-CoV-2 antibodies includes multiple, non-competing broadly neutralizing antibodies with distinct binding epitopes, led by ADG20. Adagio has secured manufacturing capacity for the production of ADG20 with third-party contract manufacturers through the completion of clinical trials and, if approved by regulatory authorities, through initial commercial launch. For more information, please visit www.adagiotx.com.