Adagio Therapeutics, a company developing best-in-class antibodies that broadly neutralize SARS-CoV-2, SARS-CoV-1, and additional potentially emergent coronaviruses, today announced the closing of an $80 million Series B financing. The funding round was led by GV, formerly known as Google Ventures, with participation from existing investors Polaris Partners, Mithril Capital, Fidelity Management & Research Company, LLC, and OrbiMed, as well as new investors, Population Health Partners and Omega Funds. The proceeds will fund the rapid advancement of Adagio's lead antibody candidate, ADG20, into clinical development for both the treatment and prevention of COVID-19 in early 2021.

Adagio is developing best-in-class antibodies that can broadly neutralize SARS-CoV-2, SARS-CoV-1 and additional potentially emergent coronaviruses. Adagio believes their antibodies will match or exceed the potency and coverage of conventional SARS-CoV-2 antibody programs and can be used as both therapeutic and durable prophylactic treatments. Candidates are engineered using best-in-industry antibody discovery capabilities and are designed to maximize potency and duration of effect. The company's portfolio includes multiple, non-competing antibodies with distinct binding targets, enabling a strategy that can avoid viral escape. Adagio's lead program is expected to enter the clinic in early 2021. For more information: www.adagiotx.com