Participated · Series C · Apr 2021

Adagio Therapeutics develops monoclonal antibodies designed to broadly neutralize SARS-CoV-2, SARS-CoV and additional pre-emergent coronaviruses. Its lead clinical candidate, ADG20, targets the spike protein and displays potent neutralizing activity against the original SARS-CoV-2 strain and known variants of concern. ADG20 is formulated at high concentrations to enable intramuscular administration, engineered for a long half-life, and may act via direct neutralization and Fc-mediated elimination of infected cells. The company has initiated a Phase 1 study in healthy volunteers and a pivotal Phase 1/2/3 STAMP trial in high-risk individuals with mild or moderate COVID-19, and plans a third trial in Q2 2021 to evaluate prevention of symptomatic COVID-19. Adagio has secured third-party manufacturing capacity to support clinical trials and potential initial commercial launch. The company intends to use recently raised funds to continue advancement of ADG20 for treatment and prevention of COVID-19 and potential future coronaviruses. Adagio Therapeutics is developing best-in-class, broadly neutralizing monoclonal antibodies targeting a conserved epitope on the spike protein of beta‑coronaviruses that use ACE2. Its lead candidate, ADG20, was selected after rapid candidate optimization and is designed for potency, extended half-life, manufacturability, tolerability, and affordability. The company established a manufacturing agreement and completed production runs for ADG20 intended for clinical trials. Adagio has received positive feedback from the FDA and plans a first‑in‑human study of ADG20 in early 2021 to support both treatment and prevention of COVID‑19. The proceeds of the recent financing will fund rapid advancement of ADG20 into clinical development. The company launched in late June and is headquartered in Waltham, Mass. Adagio is developing engineered, broadly neutralizing monoclonal antibodies that bind a highly conserved epitope on the coronavirus spike protein to neutralize SARS-CoV-2, SARS-CoV-1 and additional circulating bat coronaviruses. Its portfolio includes multiple, non-competing antibodies with distinct binding targets intended to reduce the risk of viral escape, and candidates have been optimized for potency and extended duration of effect. The company was spun out of Adimab, LLC and leverages Adimab's antibody-discovery capabilities. Adagio launched with a $50 million Series A financing intended to advance lead candidates through IND-enabling studies and into early clinical development. The lead program is expected to enter the clinic by the end of 2020, and the company envisions prophylactic use with infrequent dosing (twice a year) and potential greater than 90% protection. A senior team of infectious disease drug developers and biotechnology executives will lead development, manufacturing, and clinical efforts.