Adagene Inc. a company transforming the discovery and development of novel antibody-based therapies, today announced a partnership with ConjugateBio Inc. (ConjugateBio) to provide a proprietary antibody for use in partner companies’ bispecific ADC development programs.

“We have been very impressed with ConjugateBio’s ability to streamline ADC development, and we are pleased to provide an internally developed antibody for this purpose. By combining this antibody with various payloads, ConjugateBio is advancing the ADC landscape, which is expected to reach over $30 billion in market size by 2030,” said Peter Luo, Ph.D., CEO and President of R&D at Adagene.

Kum Yoo, Co-founder and CEO of ConjugateBio added, “Adagene’s exemplary and differentiated antibody discovery capabilities give us confidence that in our hands, we can develop novel, potent and safe antibody drug conjugates. Based on what we’ve seen with ADG126, Adagene excels in pushing the boundaries of what is possible when it comes to creating safe, well tolerated and efficacious molecules.”

Under the terms of the agreement, Adagene will receive an undisclosed upfront payment, as well as milestone and royalty payments. Adagene retains all non-ADC rights to this partnered antibody.

Source: globenewswire.com