<article>Venture capital firm <a href="https://www.dealstreetasia.com/?s=Sequoia%20Capital China">Sequoia Capital China</a> has led the $50-million Series C fundraising round in <a href="https://www.dealstreetasia.com/?s=Adagene">Adagene</a>, a Chinese antibody discovery and development firm based in Suzhou, according to an announcement.</article>

Venture capital firm <a href="https://www.dealstreetasia.com/?s=Sequoia%20Capital China">Sequoia Capital China</a> has led the $50-million Series C fundraising round in <a href="https://www.dealstreetasia.com/?s=Adagene">Adagene</a>, a Chinese antibody discovery and development firm based in Suzhou, according to an announcement.
The latest investment in Adagene, which focuses on the discovery and development of antibody therapeutics for partner companies and for its own internal pipeline, was also participated by New World TMT, AVIC Trust, King Star Capital, and Gopher Asset Management.
Co-founded by two serial entrepreneurs, Adagene has developed a proprietary dynamic precision library (DPL) and is showcasing the power of the library with a pipeline of innovative antibody therapeutics that is advancing into clinical trials.
&#8220;The funds from this round of financing will be used to advance novel antibody therapeutics into human trials across the globe,” said co-founder and CEO, Dr. Peter Luo.
Adagene has previously raised two series of financing with over $36 million. Investors include F-Prime Capital (formerly Fidelity Biosciences), Eight Roads Ventures China (formerly Fidelity Growth Partners Asia), 6 Dimensions Capital, GP Healthcare Capital and New World TMT.
Neil Shen, founding and managing partner of Sequoia China, said Adagene’s asset reflects the innovation originated from China.
&#8220;By leading the investment round, Sequoia China aims to help provide Adagene with the ability to drive long-term growth, as well as better the discovery of novel antibodies and next-generation therapeutics through the continued productivity of its discovery engine,&#8221; Shen said.
Early this month, the biotech firm signed a strategic collaboration agreement with WuXi Biologics, a global open-access biologics technology platform company offering end-to-end solutions for biologics discovery, development, and manufacturing.
Adagene is building a global biotech company with an internal pipeline of antibody therapeutics focused on difficult antigens, and therapeutic candidates with enhanced biophysical properties.
The collaboration with WuXi Biologics will support the supply of Adagene’s products for clinical trials under Investigational New Drug (IND) applications in both China and the United States, the Chinese biotech firm said.
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VC firm Sequoia Capital China has led the $50-million Series C fundraising round in Adagene, a Chinese antibody discovery and development firm based in Suzhou.

Sequoia Capital leads $50m Series C in Chinese biotech startup Adagene

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Sequoia Capital leads $50m Series C in Chinese biotech startup Adagene

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