Adagene announced the achievement of a preclinical milestone for XB404, an antibody-drug conjugate candidate utilizing its SAFEbody masking technology targeting ROR1/2-expressing tumors. This event triggered a $2.0 million payment from collaboration partner Exelixis. Additionally, Adagene received another payment related to the selection of candidates for a separate SAFEbody ADC program under the ongoing license agreement. The company is eligible for further development and commercialization milestones and royalties on net sales of products developed using its technology platform. Adagene Inc. operates in the biotechnology industry, focusing on the discovery and development of novel antibody-based cancer immunotherapies.
