2 august biotech company Adagio Therapeutics, developing antibodies for the treatment of COVID-19 and other infectious diseases in 1 research phase, announced the terms of the upcoming IPO.
The company is headquartered in Waltham, Massachusetts, plans to attract 301 million dollars, releasing 17,7 million shares at a price of 16 to 18 dollars. Taking into account the average price of the declared range, the total diluted market value of Adagio Therapeutics will be 2,0 billion dollars.
Adagio Therapeutics Completes Phase Registration 1 clinical study of its flagship ADG20 program for the treatment of SARS-CoV-2 and its variants. Company representatives claim, that unlike other antibody-based therapies, specifically targeting SARS-CoV-2, ADG20 Demonstrated In Non-Clinical Tests Ability To Kill SARS-CoV-2, including its dangerous varieties, as well as a wide range of viruses, similar to SARS. Antibodies, developed by the company, was opened by Adimab.
Adagio Therapeutics was founded in 2020 year and plans to list on the stock exchange Nasdaq under the ticker ADGI. Morgan Stanley became the joint organizers of the issue, Jefferies, Stifel и Guggenheim Securities. The company plans to hold an IPO this week, which started 2 August 2021 of the year.