Onco-Summaries: Daily Oncology Updates at a Glance

08/07/2025

Adagene and ConjugateBio sign a partnership agreement to develop novel ADC (Ref)

• Adagene announced a partnership with ConjugateBio to provide a proprietary antibody for use in partner companies’ bispecific ADC development programs

  
  

  • Under the terms of the agreement, Adagene will receive an undisclosed upfront payment, as well as milestone and royalty payments

    
    

  • Adagene will provide an internally developed antibody for novel bispecific ADC development

    
    

  • Adagene retains all non-ADC rights to this partnered antibody

CARGO Therapeutics to be acquired by Concentra Biosciences (Ref)

• CARGO Therapeutics entered into a definitive merger agreement with Concentra Biosciences, whereby Concentra will acquire CARGO for $4.379 in cash per share of CARGO common stock, par value $0.001 per share, plus one non-transferable contingent value right, which represents the right to receive:  

  
  

  • 100% of the closing net cash of CARGO in excess of $217.5 million

    
    

  • 80% of any net proceeds received within two years following closing from any disposition of certain of CARGO’s product candidates that occurs within two years following closing, each pursuant to a contingent value rights agreement 

    
    

  • The merger transaction is expected to close in August 2025