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Adagio Therapeutics Announces $336 Million Series C Financing To Support Rapid Advancement Of Novel Adg20 Antibody For The Treatment And Prevention Of Covid-19

Apr 19, 2021•about 4 years ago

Amount Raised

$336 Million

Round Type

series c

Waltham

Description

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.

Company Information

Company

Adagio Therapeutics

Location

Waltham, Massachusetts, United States

About

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.

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