Adagene and Third Arc Bio Forge Licensing Agreement for Cancer Therapy Development
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Adagene Inc. announced a licensing agreement with Third Arc Bio to use its SAFEbody technology for developing cancer therapies. Third Arc Bio gains worldwide rights to research, develop, and commercialize two masked CD3 T cell engagers. Adagene receives a $5 million upfront payment and potential milestone payments up to $840 million. This collaboration aims to enhance Adagene's industry position by expanding its technology's application. Despite this, Adagene's stock is rated as a Sell due to poor financial performance and a bearish trend.
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