Adagene
岸迈生物
Executive Summary
Adagene is a dual-headquartered (Suzhou/San Diego) biotech focused on novel antibody therapeutics with NASDAQ listing (ADAG) providing transparency for US investors. The company appears deal-ready with clear BIOSECURE status, though limited public information on pipeline specifics requires deeper due diligence. Recent 10-K filing indicates standard VIE structure for China-based biotechs, requiring careful contract review but not prohibitive for partnerships.
Structure: Adagene operates through a typical VIE structure as disclosed in their 2023 10-K filing, with US holding company controlling Chinese operating entities through contractual arrangements rather than direct ownership. The dual-HQ structure suggests meaningful US operations which could facilitate partnership integration and reduce regulatory complexity.
Ownership & Shareholder Structure
Adagene → Eli Lilly
Adagene SAFEbody platform collaboration with Eli Lilly for masked antibodies.
Corporate Events
Adagene 10-K Annual Report
10-K annual report filed with SEC. Contains corporate structure, VIE disclosures, and risk factors.
Clinical Trials(14 total)
1
Phase 2
6
Phase 1
7
Phase 1, Phase 2
| NCT ID | Interventions | Phase | Status | Enrollment |
|---|---|---|---|---|
| NCT06846268 | ADG126, Pembrolizumab | Ph.2 | RECRUITING | 20 |
| NCT05491083 | Pembrolizumab & ADG106 (Phase Ib), Pembrolizumab & ADG106 (Phase II) | Ph.1, Ph.2 | RECRUITING | 51 |
| NCT05614258 | ADG206 | Ph.1 | ACTIVE NOT RECRUITING | 14 |
| NCT05405595 | ADG126, Pembrolizumab (KEYTRUDA®), Standard of Care (Trifluridine/Tipiracil-Bevacizumab), Standard of care (Fruquintinib) | Ph.1, Ph.2 | RECRUITING | 186 |
| NCT05275777 | ADG106, Doxorubicin, Cyclophosphamide, Paclitaxel | Ph.1, Ph.2 | ACTIVE NOT RECRUITING | 66 |
| NCT05277402 | ADG116 | Ph.1 | COMPLETED | 6 |
| NCT05236608 | Nivolumab, ADG106 | Ph.1, Ph.2 | UNKNOWN | 53 |
| NCT04645069 | ADG126 Mono, ADG126-anti PD1, ADG126-ADG106 | Ph.1, Ph.2 | COMPLETED | 58 |
| NCT04775680 | ADG106 injection, PD-1 antibody injection | Ph.1, Ph.2 | TERMINATED | 25 |
| NCT04524871 | Atezolizumab, Bevacizumab 15 mg/kg, Tiragolumab, Tocilizumab, TPST-1120, Tobemstomig 2100 mg, Bevacizumab 10 mg/kg, Tobemstomig 600 mg, Tobemstomig 1200 mg, ADG126, IO-108 1800 mg, NKT2152, IO-108 1200 mg | Ph.1, Ph.2 | RECRUITING | 518 |
| NCT04501276 | ADG116, ADG106, anti PD1 drug | Ph.1 | COMPLETED | 72 |
| NCT04111445 | ADG116 | Ph.1 | TERMINATED | 1 |
| NCT03802955 | ADG106 | Ph.1 | COMPLETED | 62 |
| NCT03707093 | ADG106 | Ph.1 | COMPLETED | 49 |
BIOSECURE Risk
Company has clear BIOSECURE status with no BCC designation and maintains significant US presence through San Diego operations
Key Exposures:
- •VIE structure involves Chinese operating entities
- •Manufacturing or service providers could have BIOSECURE exposure
Mitigation: Dual-HQ structure and clear BIOSECURE status suggest proactive risk management, but specific mitigation measures not disclosed in available data
BD Intelligence
Therapeutic Areas:
Recent Deals: No recent out-licensing deals identified in available data
Approach: Approach through US headquarters in San Diego for streamlined discussions; request detailed pipeline overview and partnership case studies given limited public disclosure
Red Flags
- ⚠Limited public disclosure on pipeline assets and development stages
- ⚠No identified key personnel for relationship mapping
- ⚠Lack of recent deal precedents to benchmark terms
Quick Facts
- Key People
- 0
- Subsidiaries
- 0
- CDMO/CRO Subs
- 0
- Genomics Subs
- 0
- Direct BIOSECURE
- 0
- Corp Events
- 1
- Gov-Connected
- 0
- Clinical Trials
- 14
- Publications
- 0
- Drug Molecules
- 0
- Relationships
- 1
Sources & Methodology
Clinical trials data: ClinicalTrials.gov API v2 (14 trials linked to this entity)
SEC BIOSECURE filings: EDGAR EFTS full-text search (850+ filings from 230 companies)
Publications: Europe PMC API (0 publications indexed)
Drug molecules: ChEMBL database (European Bioinformatics Institute)
Financial data: East Money (东方财富) datacenter API / CNINFO (巨潮资讯网)
Corporate structure: Company official filings, HKEX/SSE/SZSE disclosures
Executive profiles: Company official biographies, SEC filings, LinkedIn (where verified)
Data is collected from public sources and updated weekly. Corporate intelligence is verified by a native Mandarin-speaking analyst against Chinese-language primary sources including Tianyancha (天眼查), GSXT (国家企业信用信息公示系统), and CNINFO (巨潮资讯网). This is not financial or legal advice.