Aadi Bioscience Rebrands as Whitehawk Therapeutics, Pivots to ADC Development

Aadi Bioscience, a company previously known for its commercial pharmaceutical business, has announced a significant strategic shift and rebranding effort. The company will now operate under the name Whitehawk Therapeutics, reflecting its new focus on preclinical biotech and the development of antibody-drug conjugates (ADCs).

Strategic Reboot and Rebranding

Whitehawk Therapeutics, formerly Aadi Bioscience, unveiled its new identity on Tuesday, March 18, 2025. The rebranding comes as part of a broader strategic pivot from a commercial pharmaceutical business to a preclinical biotech company. This transformation is designed to better align the company's image with its renewed focus on accelerating the development of a portfolio of ADCs.

As part of this change, the company's stock ticker on the Nasdaq will update from "AADI" to "WHWK" effective Wednesday, March 19. This marks a significant milestone for the company, which has traded under the "AADI" symbol since going public through a merger with Aerpio Pharmaceuticals in 2021.

New ADC Portfolio and Licensing Deal

The cornerstone of Whitehawk's new strategy is a trio of ADCs recently licensed from WuXi Biologics and Chinese biotech Hangzhou DAC. This licensing deal, announced in December, involves an upfront payment of $44 million, with additional commitments of up to $265 million in development milestone payments and $540 million for commercial milestones.

The newly acquired ADCs, now designated as HWK-007, HWK-016, and HWK-206, are being developed as potential treatments for a range of cancers, including lung and ovarian cancers, as well as neuroendocrine tumors. This diversified portfolio represents Whitehawk's commitment to addressing challenging cancers through innovative approaches.

Corporate Restructuring and Asset Divestment

Whitehawk's transformation follows a series of significant corporate changes. In the summer of 2024, the company, then still operating as Aadi Bioscience, halted a phase 2 solid tumor trial of its drug Fyarro due to anticipated failure. This decision led to layoffs affecting 80% of its R&D workforce.

In a move to completely refocus its business, the company reached an agreement in December to sell its Fyarro business, associated infrastructure, and the Aadi name and trademark to Japan's Kaken Pharmaceutical. While this divestment is still pending, the proceeds are expected to fund Whitehawk's operations through the end of 2028, providing a substantial runway for its new ADC-focused strategy.

Dave Lennon, Ph.D., CEO of Whitehawk Therapeutics, emphasized the company's new direction, stating, "By leveraging the foundation of well-established tumor biology and integrating cutting-edge technologies, our strategy is designed to address the challenges of treating the most difficult cancers efficiently and effectively."