WuXi, which previously backed Adagene's $8m series A round, returned for the antibody developer's latest round alongside two Fidelity Investments subsidiaries.
China-based biotechnology company Adagene has raised $28m in a series B round featuring WuXi Corporate Venture Fund and New World TMT, the respective investment arms of biopharmaceutical company WuXi PharmaTech and conglomerate New World.
The round was led by GP Healthcare Capital and featured Eight Roads Ventures China and F-Prime Capital, both investment subsidiaries of financial services conglomerate Fidelity Management and Research.
Founded in 2011, Adagene is developing a range of antibody therapeutics, both internally and in partnership with other…
