<SEC-DOCUMENT>0001104659-22-127534.txt : 20221216
<SEC-HEADER>0001104659-22-127534.hdr.sgml : 20221216
<ACCEPTANCE-DATETIME>20221216063045
ACCESSION NUMBER:		0001104659-22-127534
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20221216
FILED AS OF DATE:		20221216
DATE AS OF CHANGE:		20221216

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Adagene Inc.
		CENTRAL INDEX KEY:			0001818838
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39997
		FILM NUMBER:		221466397

	BUSINESS ADDRESS:	
		STREET 1:		4F, BUILDING C14, NO. 218, XINGHU STREET
		STREET 2:		SUZHOU INDUSTRIAL PARK
		CITY:			JIANGSU
		STATE:			F4
		ZIP:			00000
		BUSINESS PHONE:		86-512-87773632

	MAIL ADDRESS:	
		STREET 1:		4F, BUILDING C14, NO. 218, XINGHU STREET
		STREET 2:		SUZHOU INDUSTRIAL PARK
		CITY:			JIANGSU
		STATE:			F4
		ZIP:			00000
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<FILENAME>tm2232715d1_6k.htm
<DESCRIPTION>FORM 6-K
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WASHINGTON, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM&nbsp;6-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REPORT OF FOREIGN PRIVATE ISSUER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PURSUANT TO RULE 13a-16 OR 15d-16</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNDER THE SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>For the Month of  December 2022</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Commission File Number: 001-39997</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Adagene Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact Name of Registrant as Specified in Its Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>4F, Building C14, No.&nbsp;218</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Xinghu Street, Suzhou Industrial Park</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Suzhou, Jiangsu Province, 215123</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>People&#8217;s Republic of China</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>+86-512-8777-3632</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of principal executive offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant files or will file annual
reports under cover of Form&nbsp;20-F or Form&nbsp;40-F.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;20-F
</FONT><FONT STYLE="font-family: Wingdings">x</FONT>&nbsp; <B>&nbsp;</B>Form&nbsp;40-F <FONT STYLE="font-family: Wingdings">o</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate
by check mark if the registrant is submitting the Form&nbsp;6-K in paper as permitted by Regulation S</FONT>-T Rule&nbsp;101(b)(1): <FONT STYLE="font-family: Wingdings">o</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate
by check mark if the registrant is submitting the Form&nbsp;6-K in paper as permitted by Regulation S</FONT>-T Rule&nbsp;101(b)(7): <FONT STYLE="font-family: Wingdings">o</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT&nbsp;INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; width: 10%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit</B></FONT></TD>
    <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 88%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Description</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top"><A HREF="tm2232715d1_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.1</FONT></A></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><A HREF="tm2232715d1_ex99-1.htm" STYLE="-sec-extract: exhibit">Press Release titled &ldquo;Adagene
    Announces Clinical Trial Collaboration to Evaluate Anti-CTLA-4 SAFEbody<SUP>&reg;</SUP> ADG126 in Combination with Roche's Standard-of-Care
    for First-Line Advanced Liver Cancer.&rdquo;</A></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Adagene Inc.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 47%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Peter (Peizhi) Luo</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: Peter (Peizhi) Luo</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: Chief Executive Officer</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date: December 16, 2022</FONT></TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
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<TYPE>EX-99.1
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<FILENAME>tm2232715d1_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Exhibit 99.1</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B><IMG SRC="tm2232715d1_ex99-1img01.jpg" ALT="">&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Adagene
Announces Clinical Trial Collaboration to</B></FONT><B> Evaluate Anti-CTLA-4 SAFEbody&reg; ADG126 in Combination with Roche&rsquo;s Standard-of-Care
for First-Line Advanced Liver Cancer</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SAN DIEGO and SUZHOU, China, December 16, 2022&nbsp;&ndash;
Adagene Inc. (&ldquo;Adagene&rdquo;) (Nasdaq: ADAG), a company transforming the discovery and development of antibody-based
therapies, today <FONT STYLE="font-family: Times New Roman, Times, Serif">announced a clinical trial collaboration with Roche to
evaluate the triple combination of Adagene&rsquo;s ADG126 with Roche&rsquo;s </FONT> atezolizumab and bevacizumab in first-line
treatment of advanced hepatocellular carcinoma (HCC; liver cancer). The collaboration will utilize Roche&rsquo;s MORPHEUS-LIVER
platform for rapid and efficient combination development.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">Under
the collaboration, Roche will sponsor and conduct a randomized phase 1b/2 multi-national trial to evaluate the efficacy, safety and
pharmacokinetics of ADG126 in combination with bevacizumab and <FONT STYLE="background-color: white">atezolizumab, versus
atezolizumab and bevacizumab alone, initially in 60 patients. Each company is supplying its respective anti-cancer agent(s) to
support the trial. Adagene will retain global development and commercialization rights to ADG126. Additional financial details of
the collaboration were not disclosed.</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">This study expands Adagene&rsquo;s global
clinical development program for ADG126 into a new setting and tumor type as a potential component of first-line combination therapy for
HCC, where current anti-CTLA-4 therapy has demonstrated statistically significant clinical benefit in combination with anti-PD-1/PD-L1
treatment. Results of ongoing phase 1b/2 clinical trials have demonstrated a compelling, differentiated safety profile for ADG126 at doses
up to 20 mg/kg with repeat dosing as monotherapy and up to 10 mg/kg in combination with anti-PD-1 therapy. With its unprecedented safety
profile, encouraging anti-tumor activity and ability for repeat dosing, ADG126 is well suited as a combination agent designed to improve
patient outcomes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&ldquo;We are excited to initiate this collaboration
with Roche and explore the potential of ADG126 as a key component of a triplet combination for treating first-line liver cancer, along
with an established standard-of-care doublet pioneered by Roche,&rdquo; said Peter Luo, Ph.D., Co-founder and CEO of Adagene. &ldquo;Given
the longstanding safety challenges of combining multiple therapies in this cancer type, we are very excited to bring forth a potential
anti-CTLA-4 treatment with an unprecedented safety profile in an immunotherapy-based triplet combination as a promising strategy
to treat liver cancer patients, where two first-line therapies have already received  FDA approval.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">SAFEbody
technology </FONT><FONT STYLE="color: #333333; background-color: white">is designed to address safety and tolerability challenges of many
antibody therapeutics by minimizing on-target off-tumor toxicity in healthy tissues. ADG126 SAFEbody applies this precision-masking technology
to the parental anti-CTLA-4 antibody, ADG116, for conditional activation in the tumor microenvironment (TME) to expand the therapeutic
index and further address safety concerns with existing anti-CTLA-4 therapies. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; color: #333333"><FONT STYLE="background-color: white">Binding
to the same distinct and highly conserved epitope as ADG116, the masked ADG126 is designed to provide enhanced safety and efficacy profiles
due to the combination of the potent Treg depletion in the TME and partial ligand blocking by the activated ADG126, which is accumulated
steadily for the prolonged tumor killing effect.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; color: #333333">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><IMG SRC="tm2232715d1_ex99-1img01.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>About Hepatocellular Carcinoma</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Liver cancer is the fifth most common cancer and the second most frequent
cause of cancer-related death globally, with 854,000 new cases and 810,000 deaths per year.&nbsp;Hepatocellular carcinoma (HCC) is the
most prevalent form of primary liver cancer and represents approximately 90% of all primary hepatic malignancies.&nbsp;Up to 80% of patients
first presenting with HCC have advanced unresectable or metastatic disease because of the late appearance of symptoms.&nbsp; It is a medically
complex and difficult-to-treat disease as the majority of patients with HCC have underlying cirrhosis requiring management of both the
malignancy and the cirrhosis.&nbsp; In the United States, the 5-year overall survival (OS) rate of patients with HCC is 17% (Siegel et
al. 2016, while in China, the 5-year OS rate of patients with HCC is 10.1% (Chen&#8239;et&#8239;al.&#8239;2016). HCC is a highly lethal
disease with the highest mortality-to-incidence rate ratio of 0.98 of any solid tumor (Kamangar et al. 2006). The WHO estimates that more
than 1&#8239;million people will die from liver cancer in 2030, highlighting a significant global public health issue (Villanueva 2019).&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>About&nbsp;Adagene</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Adagene Inc.&nbsp;(Nasdaq: ADAG) is a platform-driven, clinical-stage biotechnology company committed to transforming the discovery and
development of novel antibody-based cancer immunotherapies.&nbsp;Adagene&nbsp;combines computational biology and artificial intelligence
to design novel antibodies that address unmet patient needs. Powered by its proprietary&nbsp;Dynamic Precision Library&nbsp;(DPL) platform,
composed of NEObody&trade;, SAFEbody<SUP>&reg;</SUP>, and POWERbody&trade; technologies, Adagene&rsquo;s highly differentiated pipeline
features novel immunotherapy programs.&nbsp;Adagene&nbsp;has forged strategic collaborations with reputable global partners that leverage
its technology in multiple approaches at the vanguard of science.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">For more
information, please visit:&nbsp;</FONT>https://investor.adagene.com. Follow&nbsp;Adagene&nbsp;on WeChat, LinkedIn and Twitter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SAFEbody<SUP>&reg;</SUP>&nbsp;is a registered trademark in&nbsp;the
United States,&nbsp;China,&nbsp;Australia,&nbsp;Japan,&nbsp;Singapore, and the&nbsp;European Union.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Adagene Safe Harbor Statement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This press release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995, including statements regarding the potential implications of clinical data for
patients, and Adagene&rsquo;s advancement of, and anticipated preclinical activities, clinical development, regulatory milestones, and
commercialization of its product candidates, including ADG126, the anticipated benefits and potential of Adagene&rsquo;s collaboration
arrangement with Roche. Actual results may differ materially from those indicated in the forward-looking statements as a result of various
important factors, including but not limited to Adagene&rsquo;s ability to demonstrate the safety and efficacy of its drug candidates;
the clinical results for its drug candidates, which may not support further development or regulatory approval; the content and timing
of decisions made by the relevant regulatory authorities regarding regulatory approval of Adagene&rsquo;s drug candidates; Adagene&rsquo;s
ability to achieve commercial success for its drug candidates, if approved; Adagene&rsquo;s ability to obtain and maintain protection
of intellectual property for its technology and drugs; Adagene&rsquo;s reliance on third parties to conduct drug development, manufacturing
and other services; Adagene&rsquo;s limited operating history and Adagene&rsquo;s ability to obtain additional funding for operations
and to complete the development and commercialization of its drug candidates; Adagene&rsquo;s ability to enter into additional collaboration
agreements beyond its existing strategic partnerships or collaborations, and the impact of the COVID-19 pandemic on Adagene&rsquo;s clinical
development, commercial and other operations, as well as those risks more fully discussed in the &ldquo;Risk Factors&rdquo; section in
Adagene&rsquo;s annual report for the year of 2021 on Form 20-F filed with the&nbsp;U.S. Securities and Exchange Commission. All forward-looking
statements are based on information currently available to&nbsp;Adagene, and&nbsp;Adagene&nbsp;undertakes no obligation to publicly update
or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required
by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Investor
 &amp; Media Contact</B></FONT>:<BR>
Ami Knoefler<FONT STYLE="color: #333333"><BR>
Adagene<BR>
650-739-9952</FONT></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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