Adagene (ADAG) investor relations material

Strategic collaborations and financial position

• Multiple strategic collaborations and licensing agreements with Sanofi, Exelixis, Third Arc, and Incyte, validating SAFEbody technology and providing up to $25M in equity investment from Sanofi.

• Strong cash position of approximately $128M as of June 30, 2026, with a projected runway through late 2028.

Pipeline and technology highlights

• Lead program ADG126 (Muzastotug), a novel anti-CTLA-4 antibody with FDA Fast Track Designation, leverages proprietary masking technology for tumor-specific activation and enhanced ADCC.

• Pipeline includes ADG138 (HER2xCD3) and ADG152 (CD20xCD3), both masked T-cell engagers, demonstrating platform versatility.

• XB404, a masked anti-ROR1/2 ADC, showed promising preclinical efficacy and stability, supporting further development.

Clinical efficacy and safety in MSS CRC

• ADG126 plus pembrolizumab demonstrated dose-dependent efficacy in late-line MSS CRC without liver metastases, with ORR up to 36% and median OS of 19.8 months at 10 mg/kg.

• Disease control rates exceeded 70% across dose cohorts, with manageable safety and low discontinuation rates (4%).

• Combination with pembrolizumab and fruquintinib in advanced MSS CRC showed ORR up to 40% and no treatment discontinuations.