Adagene Announces Updates to its Board of Directors
28 April 2023 - 1:00PM
Adagene Inc. (“Adagene”) (Nasdaq: ADAG), a platform-driven,
clinical-stage biotechnology company transforming the discovery and
development of novel antibody-based therapies today announced
updates to its board of directors (the “Board”), including the
following:
- Mervyn Turner, Ph.D., is appointed as a
director. Dr. Turner accumulated over 25 years of experience at
Merck Research Laboratories in pharmaceuticals drug discovery,
research and development, licensing and business development,
emerging markets analysis, and strategy development and
implementation. For seven years, he was head of worldwide licensing
and external research at Merck, during a period of rapid expansion
in Merck’s partnering activities. He became Merck’s first Chief
Strategy Officer and a member of the senior executive team in 2008,
before retiring from the company in 2011. Dr. Turner received his
BS and Ph.D. in Chemistry from the University of Sheffield in 1970.
He also completed his postdoctoral research in biochemistry of
histocompatibility at Havard University in 1974.
- Fangyong (Felix) Du, Ph.D., is appointed as a
director. Dr. Du joined Adagene as Vice President of Technology
Development in January 2012 and has served as Chief Technology
Officer since May 2019. Dr. Du has over 20 years of experience in
biological research and discovery, and has published numerous
peer-reviewed articles in world-renowned scientific journals such
as Nature and Science. Dr. Du worked at Affomix from October 2009
to July 2010 and Illumina from July 2010 to January 2012, and then
joined the Company in January 2012 as the Vice President of
Technology Development. Dr. Du received his Ph.D. degree in biology
from the California Institute of Technology in 2001 and his
bachelor’s degree and master’s degree in physiology and biophysics
in 1991 and 1994, respectively, from Peking University. Dr. Du also
completed his postdoctoral research from Yale University.
- Yumeng Wang, replaces Lefei Sun as a director
immediately prior to filing of the annual report of the Company for
the year of 2022 (the “Annual Report”), as designated by General
Atlantic Singapore AI Pte. Ltd. pursuant to Adagene’s current
effective memorandum and articles of association. Ms. Wang is a
vice president at General Atlantic, primarily responsible for
investments in healthcare and life sciences sectors. Prior to
joining General Atlantic, Ms. Wang served as an equity research
analyst at The Hongkong and Shanghai Banking Corporation, mainly
focusing on the healthcare sector. Ms. Wang also serves as a
non-executive director of Ocumension Therapeutics (1477.HK) and
Biotheus Inc. Ms. Wang received her bachelor’s degree in business
administration in June 2013 and her master's degree in
biotechnology in 2021 from The Hong Kong University of Science and
Technology.
- As a result of Yumeng Wang’s replacement of Lefei Sun, he has
resigned from the Board. Additionally, Yuwen Liu has resigned from
the Board and audit committee of the Board effective upon filing of
the Annual Report, due to expiration of her initial appointment as
a director and an audit committee member. Adagene appreciates the
service of Ms. Liu and her contributions to the Board.
- Each of Lefei Sun and Yuwen Liu has confirmed that there is no
disagreement with the Board and there is no matter relating to his
or her resignation that needs to be brought to the attention of the
shareholders of the Company.
“We are excited to welcome Drs. Turner and Du and Ms. Wang to
our Board, as we work to advance our differentiated clinical
products rapidly to reach critical value inflection points, harvest
value from our preclinical assets, and fully leverage our platform
technologies to drive future growth,” said Peter Luo, Ph.D.,
Co-Founder, Chief Executive Officer and Chairman of the Board
of Adagene. “I am also appreciative of Lefei Sun’s many
contributions during his past four years of service and the
contributions of Yuwen Liu in the past year. I look forward to
working with the new directors who bring a breadth of industry
experience and new insights to our Board.”
About Adagene
Adagene Inc. (Nasdaq: ADAG) is a platform-driven, clinical-stage
biotechnology company committed to transforming the discovery and
development of novel antibody-based cancer immunotherapies. Adagene
combines computational biology and artificial intelligence to
design novel antibodies that address unmet patient needs. Powered
by its proprietary Dynamic Precision Library (DPL) platform,
composed of NEObody™, SAFEbody®, and POWERbody™ technologies,
Adagene’s highly differentiated pipeline features novel
immunotherapy programs. Adagene has forged strategic collaborations
with reputable global partners that leverage its technology in
multiple approaches at the vanguard of science.
For more information, please
visit: https://investor.adagene.com.
SAFEbody® is a registered trademark in the United
States, China, Australia, Japan, Singapore, and
the European Union.
Safe Harbor Statement
This press release contains forward-looking statements,
including statements regarding the potential implications of
clinical data for patients, and Adagene’s advancement of, and
anticipated clinical activities, clinical development, regulatory
milestones, and commercialization of its product candidates. Actual
results may differ materially from those indicated in the
forward-looking statements as a result of various important
factors, including but not limited to Adagene’s ability to
demonstrate the safety and efficacy of its drug candidates; the
clinical results for its drug candidates, which may not support
further development or regulatory approval; the content and timing
of decisions made by the relevant regulatory authorities regarding
regulatory approval of Adagene’s drug candidates; Adagene’s ability
to achieve commercial success for its drug candidates, if approved;
Adagene’s ability to obtain and maintain protection of intellectual
property for its technology and drugs; Adagene’s reliance on third
parties to conduct drug development, manufacturing and other
services; Adagene’s limited operating history and Adagene’s ability
to obtain additional funding for operations and to complete the
development and commercialization of its drug candidates; Adagene’s
ability to enter into additional collaboration agreements beyond
its existing strategic partnerships or collaborations, and the
impact of the COVID-19 pandemic on Adagene’s clinical development,
commercial and other operations, as well as those risks more fully
discussed in the “Risk Factors” section in Adagene’s filings with
the U.S. Securities and Exchange Commission. All
forward-looking statements are based on information currently
available to Adagene, and Adagene undertakes no
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as may be required by law.
Investor & Media Contact
Ami Knoefler
Adagene
650-739-9952
ir@adagene.com
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