What is Adagene?
Adagene Inc. is a clinical-stage biotechnology company dedicated to the research, development, and production of innovative monoclonal antibody drugs targeting various cancers. Operating primarily in the People's Republic of China, the company leverages its expertise in antibody engineering to advance novel therapeutic candidates through the clinical pipeline. Its focus on oncology aims to address unmet medical needs in cancer treatment.
How much funding has Adagene raised?
Adagene has raised a total of $320M across 6 funding rounds:
Series A
$8M
Series B
$28M
Series C
$50M
Series D
$69M
Stock Offering
$140M
Other Financing Round
$25M
Series A (2014): $8M with participation from Fidelity Asia Growth, Fidelity Biosciences, and WuXi Venture Fund
Series B (2016): $28M led by GP Healthcare Capital, F-Prime Capital (formerly Fidelity Biosciences), WuXi Corporate Venture Fund, New World TMT, and Eight Roads Ventures China (formerly Fidelity Growth Partners Asia)
Series C (2018): $50M supported by New World TMT, AVIC Trust, Gopher Asset Management, King Star Capital, and Sequoia China
Series D (2020): $69M featuring General Atlantic
Stock Issuance/Offering (2021): $140M, investors not publicly disclosed
Other Financing Round (2025): $25M with participation from Sanofi
Key Investors in Adagene
Sanofi
Sanofi is a global biopharmaceutical company dedicated to improving lives through scientific innovation. The company focuses on discovering, developing, and delivering medicines and vaccines across immunology, rare diseases, neurology, oncology, and preventive care. Guided by research and patient needs, it works with healthcare partners worldwide to advance sustainable and responsible healthcare solutions.
Sequoia China
Sequoia Capital in India currently manages funds capitalized at close to USD 1.4 billion and invests across venture, growth, and late stage opportunities. It takes a long-term view on investments and plays the role of an active, value-added partner to entrepreneurs, business families and management teams. Over the past 7 years, Sequoia Capital has invested in more than 70 companies in India including Capillary Technologies, Druva Software, Justdial, Micromax, Mu Sigma, Pine Labs, Prizm Payments, Quick Heal and Zomato. Sequoia Capital operates out of offices in Bangalore, Mumbai, and New Delhi. Globally, Sequoia Capital has an unparalleled track record of partnering with entrepreneurs to create global market leaders. Sequoia Capital has been an early investor in companies such as Apple, Cisco, Dropbox, Google, LinkedIn, Oracle, Yahoo, YouTube and Zappos. Sequoia Capital maintains dedicated teams in USA, China, India and Israel.
General Atlantic
General Atlantic is a global growthequity firm that provides capital and strategic support to highgrowth companies in sectors such as consumer, financial services, healthcare, life sciences, and technology. With dozens of portfolio companies worldwide and offices across the Americas, EMEA, and AsiaPacific, it partners with founders and management teams to accelerate growth, international expansion, and transformational initiatives.
What's next for Adagene?
The recent major strategic investment in Adagene Inc. signals a pivotal moment for the company, likely enabling accelerated progression of its lead drug candidates through late-stage clinical trials and potential commercialization efforts. This infusion of capital is expected to bolster research and development capabilities, expand manufacturing capacity, and potentially facilitate strategic partnerships or market entry initiatives. The company's trajectory suggests a move towards scaling operations and solidifying its position in the oncology therapeutics market.
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