Adagio Therapeutics, a Phase 1 biotech developing antibody therapies COVID-19 and other infectious diseases, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
Adagio Therapeutics' lead program, ADG20, has completed enrollment in a Phase 1 clinical trial for the treatment of SARS-CoV-2 and its variants. The company claims that unlike other antibody-based therapies specifically targeting SARS-CoV-2, ADG20 has demonstrated in non-clinical studies an ability to neutralize SARS-CoV-2, including variants of concern, as well as a broad range of SARS-like viruses. The company's portfolio of antibodies was discovered by Adimab.
The Waltham, MA-based company was founded in 2020 and plans to list on the Nasdaq under the symbol ADGI. Morgan Stanley, Jefferies, Stifel, and Guggenheim Securities are the joint bookrunners on the deal. No pricing terms were disclosed.
