Adagene Inc., a biotechnology company developing innovative antibody-based cancer therapies, announced that Sanofi will invest up to $25 million in the company as part of an expanded strategic collaboration. The investment will support the continued development of Adagene’s lead asset, muzastotug (ADG126), an anti-CTLA-4 SAFEbody currently in clinical trials.
The funds will primarily be used to advance a randomized Phase 2 trial of muzastotug in patients with microsatellite stable colorectal cancer (MSS CRC), a population with limited treatment options. In addition, Adagene will provide Sanofi with muzastotug to explore its potential in combination with other anticancer therapies in a Phase 1/2 study involving over 100 patients with advanced solid tumors.
Sanofi has also exercised its option under a 2022 partnership agreement to initiate a third SAFEbody discovery program. This program, targeting undisclosed antigens, will be developed by Adagene using its proprietary masking technology and antibody engineering platform. Under the terms of the agreement, Adagene will receive an option exercise fee and may earn further milestone payments and royalties.
“Expanding our partnership with Sanofi highlights the potential of our SAFEbody platform and the clinical proof of concept for ADG126,” said Dr. Peter Luo, Chairman, CEO, and President of R&D at Adagene. “This collaboration reinforces our shared belief in the therapeutic promise of ADG126, particularly in hard-to-treat solid tumors like MSS CRC.”
The companies also announced that a Sanofi representative will join Adagene’s Scientific Advisory Board to provide guidance on scientific and clinical development strategies.
As of December 31, 2024, Adagene reported cash and cash equivalents of $85.2 million. The new investment from Sanofi is expected to extend the company’s financial runway into 2027.