- Additional Capital to Fund Ongoing STAMP Pivotal Trial of ADG20 Designed to Support Emergency Use Authorization Submission
- Financing Follows First Quarter Appointment of Industry and Banking Veteran Jane Henderson as Chief Financial Officer
Adagio Therapeutics, Inc., a biotechnology company developing best-in-class antibodies to broadly neutralize coronaviruses, today announced the completion of a $336 million Series C financing led by RA Capital Management, with participation from new investors, including Redmile Group, Federated Hermes, Foresite Capital, ArrowMark Partners, PremjiInvest, and another leading healthcare investor. Existing investors Fidelity Management & Research Company, LLC, OrbiMed, Polaris Partners, Mithril, GV, Population Health Partners, Adimab and Omega Funds also participated in the financing.
The financing will support continued advancement of ADG20, Adagio’s lead clinical candidate being developed as a single agent for both the treatment and prevention of COVID-19, the disease caused by the virus SARS-CoV-2, as well potential future coronaviruses. ADG20 is distinguished from other antibody treatments targeting SARS-CoV-2 by virtue of its ability to effectively and durably neutralize a broad range of sarbecoviruses, including SARS-CoV-2 and its emerging variants, with high potency. Preclinical data generated by Adagio and validated by the University of Oxford in a recent Cell manuscript, show that ADG20 uniquely combines potency, breadth and complete neutralization of SARS-CoV-2 and all currently known variants of concern.
