Adagio Therapeutics, Inc., a Waltham, Mass.-based company developing antibodies that broadly neutralize SARS-CoV-2, SARS-CoV-1, and additional potentially emergent coronaviruses, closed an $80m Series B financing.
The round was led by GV, with participation from existing investors Polaris Partners, Mithril Capital, Fidelity Management & Research Company, LLC, and OrbiMed, as well as new investors, Population Health Partnersand 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.
Led by Tillman Gerngross, Ph.D., CEO, Adagio is developing antibodies that can broadly neutralize SARS-CoV-2, SARS-CoV-1 and additional potentially emergent coronaviruses. Candidates are engineered using antibody discovery capabilities and are designed to maximize potency and duration of effect. The portfolio includes multiple, non-competing antibodies with distinct binding targets, enabling a strategy that can avoid viral escape. The lead program – ADG20 – is expected to enter the clinic in early 2021.