Benzinga | Aug 2, 2021 01:01PM EDT

Adagio Therapeutics Sets Terms For Over $300M IPO

* Adagio Therapeutics (NASDAQ:ADGI) has set terms for the IPO, looking to raise well north of $300 million if they hit the top of the $16 to $18 range.

* Since its inception in 2020, the Company has raised $470 million from some high-profile investors.

* At the midpoint, the valuation sits right around $2 billion.

* The Company earlier filed to raise $100 million via IPO.

* As per the S-1/A, the Company has earmarked approximately $545.0 million to fund clinical development, manufacturing supply, and initial commercialization costs for ADG20, its COVID-19 antibody candidate.