Adagio Therapeutics, which is attempting to bring COVID-19 therapies to market after raising a large sum of money during the pandemic, will have to do some soul searching after its CEO was abruptly fired. Tillman Gerngross, Ph.D., has “accepted in principle to resign,” according to the company’s statement on Friday. According to a Securities and Exchange Commission statement that provided no specifics to elucidate the cryptic phrasing, Gerngross officially informed the board of his intentions to resign on Monday.
Chief Operating Officer David Hering, who was previously the leader of Pfizer’s mRNA worldwide business and was responsible for the introduction of the COVID-19 vaccine as president of North America, is now leading the charge. Following Gerngross’ enigmatic departure, Adagio issued a statement on Tuesday outlining the next steps for its COVID-19 monoclonal antibody, designated ADG20, which is being studied for both preventing and treating SARS-CoV-2.
Adagio expects to examine clinical data from the global phase 2/3 trials of ADG20 for COVID-19 prevention and treatment, known as Evade and Stamp, by March 31. The results of those trials, which tested ADG20 at 300mg, will “guide next actions for ADG20,” according to the business. However, according to in vitro assay data, the monoclonal antibody has “markedly reduced neutralising activity” against the Omicron variety, which is now the most common strain worldwide.