February 24, 2021
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.