Breaking News: Aadi Bioscience’s Game-Changing Move
Aadi Enters into Exclusive License for Three-Asset ADC Portfolio Developed through a Collaboration between WuXi Biologics and HANGZHOU DAC
Aadi Enters Agreement to Sell FYARRO® and Associated Infrastructure to KAKEN Pharmaceutical for $100M; Announces PIPE Financing of $100M
Cumulative Capital Expected to Fund Operations into Late 2028, Including Anticipated Clinical Data for the ADC Portfolio. Co-Founder and Former CEO of ProfoundBio, Baiteng Zhao, Appointed to Aadi Board of Directors. Aadi to Hold Webcast and Conference Call on December 20 at 8:00 AM EST
LOS ANGELES, Dec. 19, 2024 /PRNewswire/ — Aadi Bioscience, Inc. (NASDAQ: AADI) today announced it has entered into an exclusive license agreement for development and global commercialization of a three-asset portfolio of preclinical, next-wave antibody-drug conjugates (ADCs), in collaboration with WuXi Biologics (2269.HK), a leading global Contract Research, Development and Manufacturing Organization (CRDMO), and HANGZHOU DAC BIOTECHNOLOGY CO., LTD. (HANGZHOU DAC), a global leader in ADC innovation.
Aadi Bioscience’s recent acquisitions and financing moves are poised to make a significant impact on the biotech industry. By acquiring a novel ADC portfolio developed in collaboration with industry leaders WuXi Biologics and HANGZHOU DAC, Aadi Bioscience is solidifying its position as a key player in the development of cutting-edge therapies.
The sale of FYARRO® and associated infrastructure to KAKEN Pharmaceutical for $100 million demonstrates Aadi’s strategic decision-making and stands to provide the company with valuable resources for its future endeavors. Additionally, securing $100 million in PIPE financing will ensure that Aadi has the necessary capital to fund its operations well into late 2028, including the anticipated clinical data for the ADC portfolio.
With the appointment of Baiteng Zhao, co-founder and former CEO of ProfoundBio, to the Aadi Board of Directors, the company is strengthening its leadership team with industry expertise and experience. The upcoming webcast and conference call on December 20 will provide stakeholders with further insights into Aadi’s strategic vision and future plans.
In conclusion, Aadi Bioscience’s recent moves position the company for continued growth and success in the biotech landscape. The acquisition of a novel ADC portfolio, sale of FYARRO®, and PIPE financing demonstrate Aadi’s commitment to advancing innovative therapies and solidifying its presence in the industry.
Based on other online sources, here is how this news will affect individuals:
Individuals in the biotech industry may see this as an opportunity for collaboration and innovation, potentially leading to new advancements in therapy development and treatment options.
Based on other online sources, here is how this news will affect the world:
The acquisition and development of a novel ADC portfolio have the potential to impact global healthcare by introducing new treatments and improving patient outcomes in various diseases.
