Adagene Announces a Platform Evaluation of the Dynamic Precision Library with Celgene Corporation
SAN FRANCISCO, March 4th, 2019
SAN FRANCISCO, March 4th, 2019 /PRNewswire/ -- Adagene, Inc., an innovative antibody discovery and engineering company, today announced a multi-target platform evaluation with Celgene Corporation. Under the terms of the agreement, Adagene will use its Dynamic Precision Library, to discover antibodies against targets chosen by Celgene. Additional details and financial terms of the agreement are not disclosed.
“Adagene’s Dynamic Precision Library has continuously showcased its power to identify functional antibodies against difficult targets where traditional methods have failed,” said Dr. Peter Luo, CEO of Adagene. “We look forward to partnering with Celgene to identify novel antibodies against challenging targets.”“The Dynamic Precision Library is designed for broad epitope coverage while keeping the developability of those candidates in mind,” said Dr. Felix Du, Head of Technology Development at Adagene. “There are quality control checks throughout the process to ensure fidelity. As a result, we can move very quickly to engineer therapeutic leads with tailor-made product profiles that directly translate into clinical candidates of value to our clients.”About AdageneAdagene (Suzhou, China and San Francisco, California) is a clinical stage biotech company with innovative antibody discovery and engineering technologies. By utilizing its proprietary Dynamic Precision Library Platform (DPL), Adagene is showcasing its exceptional antibody engineering capabilities by building franchises of products that are second and third-generation antibodies.The company's management team is composed of industry veterans with proven track records in therapeutic antibody R&D. Adagene is backed by top notch global venture funds such as F-Prime Capital Partners, Eight Roads Ventures, Wuxi Pharmatech Healthcare Fund I L.P., GP Healthcare Capital, New World TMT Ltd and Sequoia China. The company has raised over $85 million through its series A to C financing.