ADAGIO THERAPEUTICS UNVEILS ADG20 COVID-19

ANTIBODY PROGRAM UPDATE,THIRD QUARTER 2021 FINANCIAL RESULTS

KUALA LUMPUR, Nov 16 (Bernama) -- Adagio Therapeutics Inc, a clinical-stage biopharmaceutical company, has provided an update on its lead COVID-19 antibody program, ADG20, and reported third quarter 2021 financial results.

ADG20 is an investigational monoclonal antibody product candidate designed to provide broad and potent neutralising activity against SARS-CoV-2, including variants of concern, for the prevention and treatment of COVID-19, according to a statement.

“We’ve made significant progress over the course of 2021, and 2022 is set to be a landmark year for Adagio as we prepare for potential EUA submissions for ADG20 for the prevention and treatment of COVID-19,” said co-founder and chief executive officer of Adagio, Tillman Gerngross, Ph.D.

For ADG20 COVID-19 Program Updates, Adagio continues to enroll adult and adolescent participants in its ongoing, global Phase 3 EVADE clinical trial evaluating ADG20 as a prevention for COVID-19 in both the pre-exposure and recent exposure settings.

In addition, Adagio continues to enroll patients in its ongoing, global Phase 2/3 STAMP clinical trial evaluating ADG20 as a treatment for COVID-19.

New in vitro data demonstrated retained neutralising activity of ADG20 against a diverse panel of circulating SARS-CoV-2 variants, including the newly emerged Lambda, Mu and Delta plus variants.

Data from a six-month evaluation in Adagio’s Phase 1 healthy volunteer trial of ADG20 confirmed the extended half-life of ADG20, which approached 100 days based on data from the 300 mg intramuscular dose that was given as a single injection.

On Oct 29, the United States Patent and Trademark Office mailed a notice of allowance to the company for a patent application that will provide patent protection for ADG20 in the US.

Meanwhile, for third quarter 2021 financial results, as of Sept 30, Adagio had cash, cash equivalents and marketable securities of US$666.3 million, which are expected to support the company’s current operating plans into 2023. (US$1 = RM4.163)

Research & development expenses including in-process research and development for the third quarter of 2021 were US$49.4 million, while selling, general & administrative expenses for the third quarter of 2021 were US$11.1 million.

More details at www.adagiotx.com.

-- BERNAMA