Adagene Inc. reached a preclinical XB404 milestone in its Exelixis collaboration, producing a $2.0 million payment. Candidate selection for another SAFEbody antibody-drug conjugate program also triggered an additional payment, while Adagene remains eligible for development and commercialization milestones and royalties on product net sales.

Key Highlights

  • Candidate selection for another SAFEbody antibody-drug conjugate program triggered an additional payment to Adagene.
  • Exelixis has rights to use Adagene’s SAFEbody platform to create masked monoclonal antibodies for antibody-drug conjugate candidates.
  • Adagene reached a preclinical milestone for XB404 in its collaboration with Exelixis, generating a $2.0 million payment.
  • XB404 uses Adagene’s SAFEbody masking technology and is designed to target tumors expressing ROR1/2 while limiting effects on healthy tissue.

Adagene Inc. (NASDAQ: ADAG) reached a preclinical milestone for XB404 in its collaboration with Exelixis, generating a $2.0 million payment. The SAFEbody-built antibody-drug conjugate candidate is designed to target tumors expressing ROR1/2 while limiting effects on healthy tissue.

$2.0 Million XB404 Milestone Payment

XB404 uses Adagene’s SAFEbody masking technology as part of the collaboration with Exelixis. The candidate is intended to carry a cytotoxic payload to tumors that express ROR1/2, with the design aimed at reducing on-target, off-tumor side effects. Candidate selection for a separate SAFEbody antibody-drug conjugate program triggered another payment to Adagene. The amount of that payment was not stated.

Development Milestones and Royalties Remain Eligible

Adagene is eligible for development and commercialization milestone payments under the collaboration. It is also eligible for royalties based on net sales of products developed through the arrangement. The SAFEbody platform is designed to shield a biologic therapy’s binding domain until activation in the tumor microenvironment. Adagene describes itself as a platform-driven, clinical-stage biotechnology company focused on antibody-based cancer immunotherapies. The company signed the report on September 9, 2026, through Chief Executive Officer Peter Luo.