Agomab Therapeutics NV raises US$100m in Series C financing
Belgian fibrosis specialist Agomab Therapeutics NV has raised US$100m to advance development of its pipeline.
The closed financing round was led by Fidelity Management & Research Company. New investors EQT Life Sciences, Canaan and Dawn Biopharma/KKR, as well as existing investors also participated.
The Belgian company, whose pipeline candidates target the TGF-beta- or HGF pathways, said it will use the proceeds to support the development of its currently four candidate drugs, particularly its clinical ALK-5 blocker AGMB-129 for fibrostenosing Crohns disease (FCD). Futhermore, Agomab plans to push the development of its preclinical pipeline, including the ALK-5 blocker AGMB-447 for idiopathic pulmonary fibrosis and the MET agonists AGMB-101 and AGMB-102 for inflammatory and fibrotic indications.
In company is set to evaluate the potential of its lead candidate AGMB-129, a gut-restricted oral ALK-5 inhibitor in a Phase IIa study in (FCD) that recently was granted FDA Fast Track designation. According to recently published Phase I data, single- and multiple-dose-administered AGMB-129 was safe and well-tolerated at all doses tested and showed gastro-intestinal (GI)-restricted exposure. Fibrotic strictures that occur in up to 50% of Crohns Disease patients are the leading cause of bowel resection surgery.
AGMB-447 is a Phase I-ready lung-restricted inhibitor of ALK-5 for the treatment of idiopathic pulmonary fibrosis. AGMB-101 and AGMB-102 are cMET agonistic antibodies for the treatment of fibrotic and degenerative disorders. The proceeds will also enable strategic expansion of the organization and fund general corporate purposes.
As part of the Series C funding round, Felice Verduyn – van Weegen, representing EQT, will join Agomabs Board of Directors, while Iyona Rajkomar, representing Dawn Biopharma, a platform controlled by KKR, and Colleen Cuffaro, representing Canaan, will join as Board Observers.
