SCHEDULE 13G/A: WuXi PharmaTech and WuXi AppTec Disclose 8.5% Beneficial Ownership in Adagene Inc.
Beneficial Ownership Report
WuXi PharmaTech Healthcare Fund I L.P. and its indirect parent, WuXi AppTec Co., Ltd., have reported a shared beneficial ownership of 8.5% in Adagene Inc., totaling 4,978,628 ordinary shares as of March 31, 2025.
Summary
- WuXi PharmaTech Healthcare Fund I L.P. and WuXi AppTec Co., Ltd. (collectively, the "Reporting Persons") filed an Amendment No. 1 to Schedule 13G regarding their beneficial ownership in Adagene Inc.
- As of March 31, 2025, the Reporting Persons collectively beneficially own 4,978,628 ordinary shares of Adagene Inc.
- This ownership represents 8.5% of Adagene Inc.'s outstanding ordinary shares.
- The percentage is calculated based on 58,886,944 ordinary shares outstanding, as reported in Adagene Inc.'s Annual Report on Form 20-F filed on March 24, 2025.
- WuXi PharmaTech Healthcare Fund I L.P. directly holds these shares, which are in the form of 3,982,902 American Depositary Shares (ADS), with each ADS representing 1.25 ordinary shares.
- WuXi AppTec Co., Ltd. is the indirect parent company and ultimate beneficial owner of WuXi PharmaTech Healthcare Fund I L.P., sharing voting and investment authority over these shares.
- The Reporting Persons explicitly disclaim status as a "group" for the purposes of this filing.
Sentiment
Score: 5
Explanation: The document is a factual regulatory filing (Schedule 13G) reporting beneficial ownership. It contains no positive or negative forward-looking statements or performance data, thus maintaining a neutral sentiment.
Future Outlook
NA
Industry Context
This filing indicates a significant, continued stake by WuXi AppTec, a major contract research, development, and manufacturing organization (CRDMO) in the pharmaceutical and biotechnology industry, in Adagene Inc., a clinical-stage biopharmaceutical company. Such an investment by a prominent industry player like WuXi AppTec could suggest a strategic interest or confidence in Adagene's pipeline or technology, aligning with broader trends of strategic partnerships and investments within the biotech sector.
Stakeholder Impact
- Shareholders of Adagene Inc. are informed of the continued significant ownership stake held by WuXi PharmaTech Healthcare Fund I L.P. and WuXi AppTec Co., Ltd., which may be viewed as a sign of continued investor confidence from a major industry player.
Key Dates
| Date | Description |
|---|---|
| 03/24/2025 | Date Adagene Inc.'s Annual Report on Form 20-F was filed with the SEC, reporting 58,886,944 ordinary shares outstanding. |
| 03/31/2025 | Date of event which requires filing of this statement (beneficial ownership snapshot date). |
| 05/15/2025 | Date the Schedule 13G Amendment No. 1 was signed by Edward Hu. |
Keywords
Adagene Inc., WuXi PharmaTech Healthcare Fund I L.P., WuXi AppTec Co., Ltd., Schedule 13G, beneficial ownership, ordinary shares, American Depositary Shares, biotechnology, pharmaceuticals, investment, SEC filing
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