Sign up here for GlobalData's free bi-weekly Covid-19 report on the latest information your industry needs to know.Biotechnology startup Adagio Therapeutics, a spin-out of Adimab, has launched with $50m in Series A funding to support its work on coronavirus antibodies that could prevent and treat Covid-19, as well as any future coronavirus outbreaks.
Multiple companies, including Johnson & Johnson and Moderna, are developing potential vaccines against the disease. Adagio Therapeutics engineered antibody candidates to neutralise and protect against SARS-CoV-2, SARS-CoV-1 and other circulating bat coronaviruses.
The company expects these monoclonal antibodies to deliver potency and coverage against SARS-CoV-2, which causes Covid-19, as well.