Adagene Inc. ("Adagene") (Nasdaq: ADAG), a platform-driven, clinical-stage biotechnology company transforming the discovery and development of novel antibody-based therapies today announced that Third Arc Bio, Inc. ("Third Arc Bio") selected the first lead candidate under the amended strategic licensing agreement. The agreement was established in November 2025, under which Third Arc Bio utilizes Adagene’s NEObody® and SAFEbody® technology platform to generate masked CD3 T cell engagers against unique epitopes of tumor-associated antigens.   

Under the amended terms of the agreement, the companies have broadened the scope of the collaboration. In addition to selecting the first lead candidate, Third Arc Bio will also sponsor and fund the clinical development of such program. In recognition of this broadened scope, the total potential payments (including development and commercial-based milestones) payable to Adagene under the collaboration have increased. Adagene continues to hold a no-cost option to develop and commercialize the candidate molecules in Greater China, Singapore and South Korea.