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Adagio Files for IPO, Sees Need for COVID Treatments for ‘Years to Come’
Jul 19, 2021 | The Boston Globe
"Adagio Therapeutics, a Waltham biotech, disclosed in a public filing Friday that it is planning to go public one year after it was founded to advance COVID-19 antibody therapies.
"The company, which spun out of New Hampshire-based Adimab, is developing drugs that aim to treat and prevent illness caused by the coronavirus, and by new variants.
"Although three COVID-19 vaccines have been authorized for emergency use by the Food and Drug Administration, it is Adagio's idea that the current pandemic will continue to require a 'variety of effective, safe and convenient treatment and prevention options for years to come,' according to a filing with the Securities and Exchange Commission."
..."Adimab, which licensed anticoronavirus antibodies to Adagio, is the largest stockholder in the firm, with a roughly 31 percent stake. Dartmouth professor and serial entrepreneur Tillman Gerngross is the cofounder and chief executive of both firms. Investors with more than a 5 percent stake in the company include Fidelity Management & Research Co., GV, Mithril, OrbiMed, Polaris Partners, and RA Capital."
Similar coverage in: MSN
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