 SAN FRANCISCO, Feb. 11, 2021 GLOBE NEWSWIRE -- Adagene Inc. Adagene or the Company Nasdaq: ADAG, a platform-driven, clinical-stage biopharmaceutical company committed to transforming the discovery and development of novel antibody-based cancer immunotherapies, today announced the closing of its initial public offering the IPO of 8,457,100 American depositary shares ADSs, at public offering price of US19.00 per ADS. The number of ADSs issued at closing included the exercise in full of the underwriters option to purchase 1,103,100 additional ADSs from the Company. The aggregate gross proceeds from the IPO were approximately US161 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by the Company. Each ADS represents one and one quarter 1.25 ordinary shares of the Company. The ADSs began trading on the Nasdaq Global Market on February 9, 2021 under the ticker symbol ADAG. 