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Latham Advises the Underwriters in Adagene’s US IPO

February 24, 2021
Cross-border capital markets team supports a Chinese leading biopharmaceutical company in raising US$140 million in Nasdaq initial public offering.

Latham & Watkins advised the underwriters in Adagene Inc.’s initial public offering of 7,354,000 American Depositary Shares on the Nasdaq under the symbol ADAG for a total offering size of approximately US$140 million. Goldman Sachs, Morgan Stanley and Jefferies acted as the joint bookrunners on the offering.

Adagene is a platform-driven, clinical-stage biopharmaceutical company committed to transforming the discovery and development of novel antibody-based cancer immunotherapies. The company combines computational biology and artificial intelligence to design novel antibodies that address unmet patient needs.

The Latham team was led by Hong Kong partners Cathy Yeung, Benjamin Su, Daying Zhang, and San Diego partner Michael Sullivan, with associates Chimmy Tao and Jeffrey Woodley. Advice on tax matters was provided by partner Samuel Weiner in Los Angeles and associate Janet Hsu in Orange County; on FDA regulatory matters by partner Elizabeth Richards and associate Barrett Tenbarge in Washington D.C.; on IP matters by partner Chris Hazuka and associate Robert Yeh in San Diego.