Chi­nese on­col­o­gy start­up Ada­gene clos­es $50M Se­ries C led by Se­quoia Cap­i­tal

It’s been a busy week for biotech news com­ing out of Chi­na, and the lat­est fi­nanc­ing round doesn’t break the trend. VC firm Se­quoia Cap­i­tal Chi­na is back­ing Chi­nese an­ti­body plat­form com­pa­ny Ada­gene — which has a pipeline of ear­ly-stage on­col­o­gy pro­grams — in a $50 mil­lion round.

The Se­ries C will fu­el the de­vel­op­ment of an­ti­body ther­a­peu­tics for part­ner com­pa­nies and for Ada­gene’s own in­ter­nal pipeline. The com­pa­ny is keep­ing its tar­gets un­der wraps, but did dis­close that all six pre-clin­i­cal and dis­cov­ery-stage pro­grams are in the field of on­col­o­gy.

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