Till­man Gern­gross' Covid-19 an­ti­body moon­shot scores $336M with the help of new ace CFO. Is an IPO next?

Less than a year in­to its ex­is­tence, se­r­i­al biotech en­tre­pre­neur Till­man Gern­gross’ an­ti­body play Ada­gio has raced ahead in­to a piv­otal tri­al for its lead drug for Covid-19 on the back of some very promis­ing pre­clin­i­cal da­ta. Now, crossover in­vestors led by Pe­ter Kolchin­sky at RA are rolling up the Brinks truck — and that could spell an IPO in the off­ing for Ada­gio.

Ada­gio has bagged $336 mil­lion as part of a Se­ries C round led by RA Cap­i­tal to ad­vance lead sin­gle-shot an­ti­body ADG20 through a piv­otal Phase I/II/III tri­al for the treat­ment of high-risk, mild to mod­er­ate Covid-19 pa­tients, the biotech said Mon­day.

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