Adagene, a Suzhou Industrial Park, China-based biotech company, raised $8m in Series A funding.
Backers included Fidelity Biosciences, Fidelity Asia Growth and WuXi Venture Fund.
Led by Peter Luo, Ph.D., co-founder and CEO, Adagene is a developer of novel antibody therapeutics and since incorporating, in 2011, has created an expanding portfolio of libraries.
A core component of the company’s business strategy is to partner with pharmaceutical and biotechnology companies committed to therapeutic antibodies to create innovative products. Consistent with this strategy, it is entering into multiple partnerships with multinational companies for discovery and development of antibody therapeutics. Adagene is also committed to developing an internal pipeline focused on novel immune checkpoint targets and target combinations.