Adagio Thera nabs $336 million financing to progress ADG20 antibody

19 April 2021

US biotech Adagio Therapeutics says it has completed a $336 million Series C financing led by RA Capital Management, with participation from new investors, including Redmile Group, Federated Hermes, Foresite Capital, ArrowMark Partners, PremjiInvest, and another leading healthcare investor.

The financing will support continued advancement of ADG20, Adagio’s lead clinical candidate being developed as a single agent for both the treatment and prevention of COVID-19, the disease caused by the virus SARS-CoV-2, as well potential future coronaviruses.

Existing investors Fidelity Management & Research Company, OrbiMed, Polaris Partners, Mithril, GV, Population Health Partners, Adimab and Omega Funds also participated in the financing.

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