Agomab raises USD89m in Series D
Another strong financing round for Belgian Agomab NV. Sanofi is joining the band wagon of targeting the TGFbeta receptor.
Agomab Therapeutics NV, a Belgian fibrosis specialist company, announced a US$89m (€82.1m) Series D financing round with participation from new investors Sanofi and Invus, as well as existing investors. This financing comes after a more humble Series A of €21m in 2019, a stronger Series B in 2022, which climbed in two steps to US$110m, and again a strong Series C financing round just one year ago in October 2023 with, again, a three-digit million value just reaching the US$100m level. Money is easily falling in the Agomab pockets, but why?
The Belgian company´s pipeline candidates target the TGF-beta- or HGF pathways. Agomab provides several organ restricted ALK5 (TGFbeta1Receptor) inhibitors targeting the lungs and gut. The Series D proceeds will be used to advance the ongoing clinical development of Agomab’s lead candidate, AGMB-129, a gut-restricted oral small molecule inhibitor of ALK5, for patients with Fibrostenosing Crohn’s Disease (FSCD). Interim data from the Phase 2a STENOVA study are expected in the first quarter of 2025. In addition, the proceeds will be used to advance the clinical development of AGMB-447, a lung-restricted, inhaled small molecule inhibitor of ALK5, which is currently in a Phase 1 clinical trial in healthy volunteers and patients with idiopathic pulmonary fibrosis (IPF), as well as the early clinical development of AGMB-101, a fully MET agonistic antibody currently in the final stages of IND-enabling studies, which the company intends to develop for the treatment of liver cirrhosis.
On Agomab’s bandwagon, you’ll find a who’s who of corporate and VC investors, including Pfizer, EQT Life Sciences, Fidelity, Boehringer Ingelheim Fund, Andera Partners, VIB Ventures and others. Originally, the company was formed from a collaboration of argenx SE and the University of Turin, Italy, where research of the HGF pathway (heaptocyte growth factor) has been done.
“We are delighted to have Sanofi and Invus join our syndicate of investors”, said Tim Knotnerus, Chief Executive Officer of Agomab Therapeutics. “Their investment, along with the continued support of our existing shareholders, is further validation of the groundbreaking work our team is doing in the areas of fibrostenosing Crohn’s disease and idiopathic pulmonary fibrosis.”
