Agomab goes public on Nasdaq as biotech IPOs top $1bn in a single week

Agomab is advancing antibody therapies aimed at fibrotic complications, including fibrostenosing Crohn’s disease, with multiple programs now in clinical development.

Agomab’s Nasdaq debut comes in the same week as cancer-focused biotech Eikon Therapeutics completed the largest IPO of the year so far, marking an uptick in new biotech listings after a much quieter period.

Agomab’s most advanced asset is ontunisertib (AGMB-129), an oral, gastrointestinal-restricted small-molecule inhibitor of ALK5 targeting fibrotic signaling locally in the gut while limiting systemic exposure.

With IPO proceeds, Agomab has said it plans to launch a global phase 2b study of ontunisertib in fibrostenosing Crohn’s disease, the next logical clinical step for the company. 

Alongside its lead program in fibrostenosing Crohn’s disease, Agomab’s pipeline includes AGMB-447, a lung-targeted ALK5 inhibitor being developed for idiopathic pulmonary fibrosis (IPF) and other lung fibrosis indications. The company is currently exploring dosage in phase 1. IPF and related lung fibrosis indications have seen other clinical activity this year. For example, Swedish biotech Cereno Scientific recently announced plans to broaden the clinical focus for its HDAC inhibitor to include pulmonary hypertension associated with interstitial lung disease (PH-ILD), a serious complication in ILD patients.

Another program from Agomab, AGMB-101, is a hepatocyte growth factor (HGF)-mimetic antibody engineered to activate the MET receptor, a signalling pathway linked to tissue regeneration and antifibrotic biology. AGMB-101 remains in preclinical development, with the company describing it as a complementary approach to its small-molecule fibrosis portfolio.

IPO window in early 2026

At the time Agomab announced its plan to go public on the U.S. market, the IPO momentum was already notable, and the signals are even more encouraging today. Over the past few days, several life sciences companies have successfully priced IPOs, together raising more than $1 billion, making this the busiest stretch for biotech in roughly a year. 

In ophthalmology, SpyGlass Pharma also priced its IPO at $16 per share, aiming to raise about $150 million gross. Veradermics, a hair-loss-focused biotech, raised about $256 million in an upsized offering two days ago. But the strongest signal came from Eikon Therapeutics, a cancer-focused biotech developing small-molecule therapies built around high-resolution live-cell imaging, which raised $381.2 million, the largest biotech IPO since 2024. Earlier in the year, listings such as Aktis Oncology’s $318.0 million IPO offered early indications that the market might pick up, but this week’s cluster provides the first real sense of momentum.

The contrast with last year is sharp. U.S. biotech IPOs raised roughly $1.6 billion in total across all of 2025, spread thinly over 11 offerings. By comparison, a handful of offerings in early 2026, led by Eikon Therapeutics and followed by Agomab and SpyGlass, have already generated a meaningful share of that amount within weeks. It seems to indicate public investors are once again willing to back biotech stories with defined clinical trajectories. While IPOs are picking up in the U.S., the European public market has been more stagnant in 2026 so far, with no IPO in the U.K. or in Europe.