WuXi PharmaTech Healthcare Fund Reports 5.9% Stake in Adagene Inc. (ADAG)

WuXi PharmaTech Healthcare Fund I L.P. and WuXi AppTec Co., Ltd. filed a Schedule 13G/A on May 15, 2026, disclosing a 5.9% ownership stake in Adagene Inc. (ADAG). The reporting persons collectively hold 3,485,038 ordinary shares, which are held in the form of 2,788,030 American Depositary Shares (ADS). Each ADS represents 1.25 ordinary shares of the issuer. WuXi PharmaTech Healthcare Fund I L.P. directly holds the shares, while WuXi AppTec Co., Ltd., as the indirect parent company and ultimate beneficial owner, shares voting and investment authority over the position. This filing represents an increase from the previously reported 0% ownership, marking a significant position for the healthcare-focused investment group. The calculation of the ownership percentage is based on 59,231,993 ordinary shares outstanding as of December 31, 2025. The reporting persons have expressly disclaimed status as a 'group' for the purposes of this filing.