Adagene and Sanofi to 'chase miracles' in I-O deal worth up to $2.5 billion

2 March 2022

Shares in China-headquartered company Adagene (Nasdaq: ADAG) were up by 4% during Wednesday morning’s trading in New York.

The company had announced a collaboration and exclusive license agreement with Sanofi (Euronext: SAN) to generate masked monoclonal and bispecific antibodies for development and commercialization by the French pharma major.

$17.5 million paid upfront

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