What ADEL does

ADEL (주식회사 아델; ADEL, Inc.) is a South Korea–based clinical-stage biopharmaceutical company founded in November 2016 as a spin-off from the Ulsan College of Medicine at Asan Hospital. The company develops therapeutic antibodies, small-molecule degraders, and diagnostic agents for Alzheimer's disease and other neurodegenerative conditions, with five disclosed pipeline assets: ADEL-Y01 (tau-acK280 monoclonal antibody, Phase 1 in the US), ADEL-Y03 (free β2-microglobulin antibody, preclinical), ADEL-Y04 (ApoE4 antibody, preclinical), ADEL-Y07 (ADTAC™-based small-molecule degrader for tau aggregates and androgen receptor, Hit-to-Lead), and ADEL-D01 (tau pT217 diagnostic antibody). ADEL's underlying technology rests on two proprietary platforms: ADTAC™ (Autophagic Degradation Targeting Chimera), which delivers target molecules to LC3 domains for degradation through autophagy and can clear large protein aggregates, lipids, and organelles independent of proteasome or E3-ligase activity; and BTS (Brain Targeting System), which fuses biopharmaceuticals with Brain Penetrating Peptides to optimize blood-brain barrier penetration.

The business model is enterprise licensing and milestone-driven: ADEL develops drug candidates through preclinical and early clinical stages and out-licenses them to global pharmaceutical partners for worldwide development and commercialization, receiving upfront payments, development and commercial milestones, and royalties on net sales. The company's primary commercial validation is a December 2025 licensing agreement with Sanofi for ADEL-Y01 valued at up to $1.04 billion, including an $80 million upfront payment. Recurring operating support includes Korean R&D grants (notably 5.3 billion KRW from Oscotec and the Dementia Overcoming R&D Project Group since May 2023) and venture funding (~30 billion KRW cumulative since 2018, including a 17 billion KRW Series B bridge in August 2024). ADEL employs approximately 20 people across three sites in Seoul and Yongin-si, is led by founder-CEO Seung-Yong Yoon (Chief Professor at Asan Medical Center), and is preparing for a KOSDAQ IPO.

Name

ADEL

Legal name

주식회사 아델 (ADEL, Inc.)

Website

https://adelpharm.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

ADEL is a South Korean clinical-stage biopharmaceutical company developing antibody therapies, small-molecule degraders, and diagnostics for Alzheimer's disease and other neurodegenerative conditions, with lead candidate ADEL-Y01 in US Phase 1 trials.

Ownership category

akta.pro rank

Product category

Alzheimer's Disease Therapeutics and Diagnostics

SIC

Biological Products, (No Disgnostic Substances) (2836)

akta.pro primary industry

Antibody Discovery & Engineering Platforms (display tech, bispecifics, Fc engineering) (HLAAAIAB)

akta.pro secondary industry

Target Identification & Validation Platforms (omics-driven, chemoproteomics, genetic validation) (HLAAAIAI)

Keywords

• Alzheimer's therapeutics
• Monoclonal antibody development
• Neurodegenerative disease drug development
• Targeted protein degradation
• Blood-brain barrier delivery

Headquarters

HQ city

Seoul

HQ country

South Korea

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Licensing and Milestone Payments: ADEL generates revenue through licensing deals with pharmaceutical companies. The company receives upfront payments, development and commercial milestone payments, and royalties on net sales. Recent deal with Sanofi for ADEL-Y01 includes $80 million upfront plus up to $960 million in milestones plus royalties.
2. R&D Funding: The company receives R&D funding from government and institutional sources. Received 5.3 billion won in R&D funding from Oscotec and the Dementia Overcoming Research and Development Project Group since May 2023.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

ADEL is a clinical-stage biopharmaceutical company that develops therapeutic antibodies, targeted protein degraders, and diagnostic antibodies for Alzheimer's disease and other neurodegenerative disorders. Its pipeline includes ADEL-Y01 (tau-acK280 monoclonal antibody, Phase 1 in the US), ADEL-Y03 (free β2-microglobulin antibody, preclinical), ADEL-Y04 (ApoE4 antibody, preclinical), ADEL-Y07 (ADTAC-based tau degrader, hit-to-lead), and ADEL-D01 (tau pT217 diagnostic antibody). Drug candidates are advanced through clinical milestones and then out-licensed to global pharmaceutical partners for worldwide commercialization.

Product overview

ADEL is a biopharmaceutical company focused on developing treatments and diagnostics for Alzheimer's disease and other neurodegenerative conditions. The company operates two core technology platforms: ADTAC™ (Autophagic Degradation Targeting Chimera) for targeted protein degradation, and BTS (Brain Targeting System) for blood-brain barrier penetration. The therapeutic pipeline includes five drug candidates: ADEL-Y01 (tau antibody, Phase 1), ADEL-Y03 (β2m antibody, preclinical), ADEL-Y04 (ApoE4 antibody, preclinical), and ADEL-Y07 (ADTAC-based tau degrader, Hit-to-Lead). Additionally, ADEL-D01 is a diagnostic antibody for Alzheimer's disease detection.

Differentiator

Problem solved

Functional benefit

Brands

• ADTAC™: Autophagic Degradation Targeting Chimera - a platform technology for degrading proteins, lipids, and organelles through autophagy
• BTS

Products and services

• ADEL-Y01 ADEL-Y01 is a humanized monoclonal antibody targeting acetylated tau protein at lysine 280 (acK280) for the treatment of Alzheimer's disease and tauopathies. It inhibits tau aggregation, seeding, and propagation and enhances microglial tau clearance. Currently in Phase 1 clinical trials in the United States following FDA IND approval in Q4 2023, and licensed to Sanofi in December 2025 for worldwide development and commercialization.
• ADEL-Y03 ADEL-Y03 is a monoclonal antibody selectively recognizing MHC-I-free β2-microglobulin (free-β2m), a systemic pro-aging factor that impairs cognitive function. It is being developed for Alzheimer's disease, aging-related cognitive decline, fibrosis (kidney, liver, lung), cancer, and inflammation, and is currently in preclinical efficacy stage.
• ADEL-Y04 ADEL-Y04 is a monoclonal antibody targeting Apolipoprotein E4 (ApoE4), the strongest genetic risk factor for Alzheimer's disease (two copies increase AD risk by up to 12 times). It is being developed for Alzheimer's disease and metabolic disease indications, and is currently in preclinical efficacy stage.
• ADEL-Y07 (ADTAC™) ADEL-Y07 is a small-molecule therapeutic candidate built on ADEL's ADTAC™ (Autophagic Degradation Targeting Chimera) platform. It targets tau aggregates for Alzheimer's disease and the androgen receptor for prostate cancer, and is currently in hit-to-lead discovery stage.
• ADEL-D01 ADEL-D01 is a monoclonal antibody recognizing phosphorylated tau at threonine 217 (pT217), a highly specific biomarker for detecting preclinical and advanced Alzheimer's disease, dementia, and tauopathies. It is being developed as a diagnostic product for Alzheimer's disease detection.

Quantifiable outcome

• First-in-class tau-acK280 antibody demonstrated superior inhibition of tau seeding and aggregation compared to competing antibodies in preclinical studies
• +2 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Five partnerships are on record, tiered flagship, core and supporting.

• SanofiflagshipStrategic or Co-development Partner · 15 December 2025Sanofi entered into a licensing and development collaboration with ADEL for ADEL-Y01, a potential first-in-class antibody therapy for Alzheimer's disease. Total potential deal value up to $1.04 billion. ADEL receives $80 million upfront non-refundable payment plus development and commercial milestone payments and tiered royalties up to double-digit percentages on net sales. Sanofi receives worldwide development and commercialization rights.
• Oscotec, Inc.coreStrategic or Co-development PartnerCo-development partner for drug development since 2020. Contract signed for joint development of Alzheimer's disease treatments including ADEL-Y01. Oscotec has co-developed the tau antibody candidate with ADEL since 2020. Oscotec also provided R&D funding to ADEL.
• Asan Medical Center / Ulsan University College of MedicinecoreStrategic or Co-development PartnerADEL is a spin-off company from Ulsan University College of Medicine at Asan Hospital. The company maintains close ties with the institution, with CEO Yoon Seung-Yong serving as Chief Professor at the Department of Brain Science, Asan Medical Center.
• Johnson & Johnson InnovationsupportingStrategic or Co-development PartnerADEL was selected as a finalist in the Johnson & Johnson Innovation JLABS program in March 2025, providing potential access to J&J's resources and ecosystem.
• KITE (Korea Institute of Toxicology)supportingTechnology or IntegrationListed as a partner in ADEL's ecosystem for toxicology research and development support.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Biogen: Developer of Leqembi (lecanemab), an FDA-approved anti-amyloid antibody for Alzheimer's disease. Directly comparable because Biogen competes in the same neurodegenerative antibody therapeutics space ADEL targets, albeit at a vastly larger scale and with an amyloid-focused mechanism.
• Eli Lilly: Developer of Kisunla (donanemab), another FDA-approved anti-amyloid Alzheimer's antibody. Lilly is a relevant incumbent peer because it validates the commercial Alzheimer's antibody market ADEL is pursuing with its tau-targeted approach.
• Roche: Developed gantenerumab (anti-amyloid) for Alzheimer's and runs broader CNS/neurodegenerative programs. Comparable as a large incumbent pursuing disease-modifying antibody therapeutics in the same indication space ADEL targets.

Direct peers

• Prothena: Clinical-stage biotech developing tau-targeting antibodies for Alzheimer's and other neurodegenerative diseases. Most directly comparable to ADEL because both companies are building pipelines around disease-modifying anti-tau antibodies targeting post-translational modifications.
• AC Immune: Swiss clinical-stage biotech developing both active immunotherapies (vaccines) and passive antibodies against tau and amyloid for Alzheimer's disease. Comparable to ADEL as a similarly-sized peer developing tau-focused therapeutics, including a Morphomer tau aggregation inhibitor program.
• Eisai: Co-developer of Leqembi (lecanemab) and a major Alzheimer's-focused pharma. Relevant peer because of its deep commitment to neurodegenerative disease pipelines and as a potential comparator/licensor for tau antibody programs similar to ADEL-Y01.

Emerging players

• Athira Pharma: Clinical-stage biotech developing small-molecule therapies (e.g., fosgonimeton) targeting HGF/MET signaling for Alzheimer's and other neurodegenerative diseases. Comparable as a similarly-sized emerging peer developing non-amyloid Alzheimer's mechanisms.
• Anavex Life Sciences: Clinical-stage biotech developing sigma-1 receptor agonists (blarcamesine) for Alzheimer's disease and other neurological indications. Comparable as a small-cap peer pursuing disease-modifying Alzheimer's mechanisms outside the dominant amyloid hypothesis.
• Cassava Sciences: Clinical-stage biotech developing simufilam for Alzheimer's disease, a small-molecule targeting filamin A. Comparable as a small-cap peer pursuing novel, non-amyloid Alzheimer's mechanisms with similar regulatory and clinical risk profile.

Regional players

• Oscotec: South Korean biotech that has been ADEL's co-development partner for the tau antibody program since 2020 and a provider of R&D funding. Comparable as a regional peer with overlapping neuroscience drug development activities and as a direct operational partner.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/ADELpharmaceutical
• LinkedInlinkedin.com/company/adelpharm

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds5 records

Investors8 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ADEL