Adagio Therapeutics Raises $80M Series B Round to Further Advance Best-In-Class Antibodies for Coronavirus Treatment and Prevention
Adagio Therapeutics Raises $80M Series B Round to Further Advance Best-In-Class Antibodies for Coronavirus Treatment and Prevention
11/10/20, 12:04 PM
Location
walthamMoney raised
$80 million
Round Type
series b
Adagio Therapeutics, Inc., a company developing best-in-class antibodies that broadly neutralize SARS-CoV-2, SARS-CoV-1, and additional potentially emergent coronaviruses, today announced the closing of an $80 million Series B financing. The funding round was led by GV, formerly known as Google Ventures, with participation from existing investors Polaris Partners, Mithril Capital, Fidelity Management & Research Company, LLC, and OrbiMed, as well as new investors, Population Health Partners and Omega Funds. The proceeds will fund the rapid advancement of Adagio’s lead antibody candidate, ADG20, into clinical development for both the treatment and prevention of COVID-19 in early 2021.
Company Info
Company
Adagio Therapeutics
Location
waltham, massachusetts, united states
Additional Info
Adagio is developing best-in-class antibodies that can broadly neutralize SARS-CoV-2, SARS-CoV-1 and additional potentially emergent coronaviruses. We believe our antibodies will match or exceed the potency and coverage of conventional SARS-CoV-2 antibody programs and can be used as both therapeutic and durable prophylactic treatments. Our candidates are engineered using best-in-industry antibody discovery capabilities and are designed to maximize potency and duration of effect. Our portfolio includes multiple, non-competing antibodies with distinct binding targets, enabling a strategy that can avoid viral escape. Our lead program is expected to enter the clinic in early 2021. For more information: www.adagiotx.com