<SEC-DOCUMENT>0001104659-24-004145.txt : 20240116
<SEC-HEADER>0001104659-24-004145.hdr.sgml : 20240116
<ACCEPTANCE-DATETIME>20240116170013
ACCESSION NUMBER:		0001104659-24-004145
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20240116
FILED AS OF DATE:		20240116
DATE AS OF CHANGE:		20240116

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Adagene Inc.
		CENTRAL INDEX KEY:			0001818838
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		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:		24535819

	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
</SEC-HEADER>
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<TYPE>6-K
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<FILENAME>tm243326d1_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 January 2024</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: 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"></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>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>

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  <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: January 16, 2024</FONT></TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&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>

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    <TD STYLE="width: 10%; border-bottom: Black 1pt solid"><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="width: 88%; border-bottom: Black 1pt solid; 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="tm243326d1_ex99-1.htm"><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="tm243326d1_ex99-1.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Press Release titled &ldquo;Adagene
    Presents Interim Results Reinforcing Best-in-Class Profile of Masked anti-CTLA-4 SAFEbody<SUP>&reg;</SUP> ADG126 (muzastotug) in
    Combination with Pembrolizumab&#8239;in Metastatic Microsatellite-stable (MSS) Colorectal Cancer (CRC)&rdquo;</FONT></A></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>tm243326d1_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 99.1</B></P>

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

<P STYLE="margin: 0; text-align: left"><IMG SRC="tm243326d1_ex99-1img001.jpg" ALT="">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>Adagene Presents
Interim Results Reinforcing Best-in-Class Profile of Masked anti-CTLA-4 SAFEbody</B><SUP>&reg;</SUP> <B><BR>
ADG126 (muzastotug) in Combination with Pembrolizumab&#8239;in Metastatic Microsatellite-stable (MSS) Colorectal Cancer (CRC) </B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: center"><FONT STYLE="font-size: 10pt"><I>- Data
from first tranche of MSS CRC patients treated with ADG126 10 mg/kg every three weeks (Q3W) in dose expansion showed clinical benefit
including confirmed responses at higher, more frequent and repeat doses of the anti-CTLA-4 therapy&#8239;&ndash;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: center"><FONT STYLE="font-size: 10pt"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: center"><FONT STYLE="font-size: 10pt"><I>- Preliminary
survival analysis of ADG126 10 mg/kg dosing regimens in patients without liver and peritoneal metastases indicates best-in-class median
progression-free survival (PFS) of seven months &ndash;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: center"><FONT STYLE="font-size: 10pt"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: center"><FONT STYLE="font-size: 10pt"><I>- Data
from additional patients at 10 mg/kg Q3W dosing regimen expected throughout 2024 &ndash;</I></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">SAN DIEGO and SUZHOU, China, January
16, 2024&nbsp;&ndash; Adagene Inc. (&ldquo;Adagene&rdquo;) (Nasdaq: ADAG), a company transforming the discovery and development of novel
antibody-based therapies, today announced data from its presentation at the American Society of Clinical Oncology (ASCO) 2024 Gastrointestinal
(GI) Cancers Symposium, taking place January 18-20 in San Francisco.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><FONT STYLE="font-size: 10pt">&ldquo;The
expanded therapeutic index for the masked ADG126 allows us to dose with a higher and more frequent effective dose of anti-CTLA-4 therapy
than today&rsquo;s options,&rdquo; said <FONT STYLE="color: #201F1E">Daneng Li, MD and Associate Professor Department of Medical Oncology
 &amp; Therapeutics Research at the City of Hope Comprehensive Cancer Center. &ldquo;</FONT>These promising data support further evaluation
of this potential best-in-class anti-CTLA-4 antibody, ADG126, in combination with pembrolizumab for MSS CRC patients, including battling
new liver lesions in those patients initially without detectable liver metastasis.&nbsp;We also see a tremendous opportunity to help
patients in other tumor types where there is a significant need for safe and potent anti-CTLA-4 therapy.&rdquo;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Key highlights from the poster (November
30, 2023 data cutoff) include:</FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD><FONT STYLE="font-size: 10pt">Results
                                            from dose escalation and dose expansion cohorts of ADG126 in combination with Merck &amp;
                                            Co., Inc., Rahway, NJ, USA&rsquo;s anti-PD-1 therapy KEYTRUDA<SUP>&reg;</SUP> (pembrolizumab)
                                            (200 mg/Q3W) demonstrated a best-in-class safety profile for ADG126 at doses from 6 mg/kg
                                            to 10 mg/kg in heavily pre-treated advanced/metastatic patients (N=46):</FONT></TD></TR></TABLE>

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<TD STYLE="width: 33pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">o</FONT></TD><TD><FONT STYLE="font-size: 10pt">Limited
                                            dose-dependent toxicities were observed.</FONT></TD></TR></TABLE>

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<TD STYLE="width: 33pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">o</FONT></TD><TD><FONT STYLE="font-size: 10pt">Grade
                                            3 TRAEs occurred in 5/46 patients (10.8%), with no Grade 4 or 5 TRAEs and a discontinuation
                                            rate of 6.5% (3/46).</FONT></TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD><FONT STYLE="font-size: 10pt">In
                                            dose escalation across tumor types, two partial confirmed responses (PRs) were observed among
                                            the three patients treated with ADG126 10 mg/kg&nbsp;Q3W, which triggered expansion cohorts
                                            at this dosing regimen. One of the patients had PD-1 refractory cervical cancer and the other
                                            had endometrial cancer. Both confirmed PRs are sustained after more than 55 weeks (over 14
                                            cycles) of treatment.</FONT></TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD><FONT STYLE="font-size: 10pt">In
                                            dose expansion of patients with MSS CRC, 12 evaluable patients without liver metastases were treated at the active, potent
                                            dose of 10 mg/kg Q3W:</FONT></TD></TR></TABLE>

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<TD STYLE="width: 33pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">o</FONT></TD><TD><FONT STYLE="font-size: 10pt">Two
                                            confirmed PRs were observed in nine of these patients without peritoneal and liver metastases,
                                            resulting in an overall response rate of 22% in this subset.</FONT></TD></TR></TABLE>

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

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<P STYLE="margin-top: 0; margin-bottom: 0"><IMG SRC="tm243326d1_ex99-1img001.jpg" ALT="">&nbsp;</P>

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<TD STYLE="width: 33pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">o</FONT></TD><TD><FONT STYLE="font-size: 10pt">An
                                            additional seven of these nine patients experienced stable disease (SD) for an overall disease
                                            control rate 100% (2 PRs and 7 SD).</FONT></TD></TR></TABLE>

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<TD STYLE="width: 33pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">o</FONT></TD><TD><FONT STYLE="font-size: 10pt">Observation
                                            of these clinical activities triggered further expansion into Stage 2 of the Simon&rsquo;s
                                            2-stage design for this dose level, which is currently ongoing with data anticipated throughout
                                            2024.</FONT></TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD><FONT STYLE="font-size: 10pt">In
                                            a preliminary PFS analysis of those MSS CRC patients free of liver and peritoneal metastasis,
                                            a median PFS of seven months was observed in those treated with ADG126 10 mg/kg at two dosing
                                            frequencies pooled together [every three weeks (n=9) and every six weeks (n=6)]. The durable
                                            clinical activity of ADG126 in combination with pembrolizumab will continue to be evaluated
                                            as a larger cohort of subjects becomes evaluable at the 10 mg/kg Q3W dose level.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Commenting on the results, Heinz Josef-Lenz,
MD, FACP, Associate Director for Clinical Research and Co-leader of the Translational Science Program at the USC Norris Comprehensive
Cancer Center (NCCC) said, &ldquo;I believe that CTLA-4 is an essential part of an effective immunotherapy for MSS CRC, yet physicians
have been limited by the safety challenges from first generation options. The clinical profile of ADG126 in combination with pembrolizumab
presents a great opportunity for MSS CRC patients that otherwise have limited immunotherapy options available.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B><U>ASCO-GI Poster Presentation Details
</U></B></FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><FONT STYLE="font-size: 10pt">Title<FONT STYLE="font-weight: normal"><I>:
<FONT STYLE="color: #2B3341">Results of a phase 1b/2 study of ADG126 (a masked anti-CTLA-4 SAFEbody) in combo with pembrolizumab (Pembro)
in patients (Pts) with metastatic microsatellite-stable (MSS) colorectal cancer (CRC)</FONT></I></FONT></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><FONT STYLE="font-size: 10pt"><FONT STYLE="font-weight: normal"><I><FONT STYLE="color: #2B3341">&nbsp;</FONT></I></FONT></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD><FONT STYLE="font-size: 10pt">Date:
                                            Saturday, January 20</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD><FONT STYLE="font-size: 10pt">Time:
                                            6:30 a.m. &ndash; 7:55 a.m. Pacific Time</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD><FONT STYLE="font-size: 10pt">Onsite
                                            Location: <FONT STYLE="background-color: white">Moscone West</FONT></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD><FONT STYLE="font-size: 10pt">Abstract
                                            Number: 127</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD><FONT STYLE="font-size: 10pt">Poster
                                            Board: H12</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Consistent with the ASCO-GI embargo
policy, the data are being released today in conjunction with the abstract publication.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">KEYTRUDA<SUP>&reg;</SUP> is a registered
trademark of Merck Sharp &amp; Dohme LLC, a subsidiary of Merck &amp; Co., Inc., Rahway, NJ, USA.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>About Adagene</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; color: #333333"><FONT STYLE="font-size: 10pt">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.</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"><FONT STYLE="font-size: 10pt; color: #333333">For
more information, please visit:&nbsp;</FONT><FONT STYLE="font-size: 10pt">https://investor.adagene.com<FONT STYLE="color: #333333">.
<BR>
Follow&nbsp;Adagene&nbsp;on&nbsp;</FONT>WeChat<FONT STYLE="color: #333333">,&nbsp;</FONT>LinkedIn<FONT STYLE="color: #333333">&nbsp;and&nbsp;</FONT>Twitter<FONT STYLE="color: #333333">.
</FONT></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; background-color: white; color: #333333"><FONT STYLE="font-size: 10pt">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.</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"></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="tm243326d1_ex99-1img001.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"><FONT STYLE="font-size: 10pt"><B>Safe Harbor Statement</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #333333"><FONT STYLE="font-size: 10pt; background-color: white">This
press release contains forward-looking statements, including statements regarding certain clinical results of ADG126, 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. 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 filings 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.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>Investor &amp; Media Contact:</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Ami Knoefler<BR>
Adagene<BR>
650-739-9952<BR>
ir@adagene.com</FONT></P>

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

<P STYLE="margin: 0"><FONT STYLE="font-size: 10pt"></FONT></P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
