Adagene Inc (ADAG)

[StockLogistics]

“6:15a ET 3/2/2022 - Dow Jones
Adagene in Antibody Licensing Agreement With Sanofi

By Chris Wack

Adagene Inc. said it has entered into a collaboration and exclusive license agreement with Sanofi to generate masked monoclonal and bispecific antibodies for development and commercialization by Sanofi.

Under the agreement, Adagene will be responsible for early stage research activities to develop masked versions of Sanofi candidate antibodies, using Adagene's SAFEbody technology.

Sanofi will be solely responsible for later stage research and all clinical, product development and commercialization activities.

Adagene said Sanofi will make an upfront payment of $17.5 million and will have the ability to advance two initial Sanofi antibody candidates in the collaboration, followed by an option for two additional candidates. Adagene will be eligible to receive total potential development, regulatory and commercial milestone payments of up to $2.5 billion for advancement of the candidates, which will be exclusively developed and commercialized by Sanofi. Adagene is eligible also to receive tiered royalties on global net sales of approved collaboration products.

SAFEbody technology was designed by Adagene to address safety and tolerability challenges associated with many antibody therapeutics by using precision masking technology to shield the binding domain of the biologic therapy.

Write to Chris Wack at [e-mail]

(END) Dow Jones Newswires

March 02, 2022 06:15 ET (11:15 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.”