Asabys is once again investing in Agomab, this time with Sanofi and Invus joining the company as new investors.
The funds will be used to finance the clinical development of the lead candidate AGMB-129 for fibrosing Crohn’s disease, AGMB-447 for idiopathic pulmonary fibrosis and AGMB-101 for liver cirrhosis
Antwerp, Belgium, 25 October 2024 – Agomab T herapeutics N V (“Agomab”) today announced a $90 million (€82.1 million) Series D financing round, with Sanofi and Invus participating as new investors, alongside existing investors such as Asabys, which became a shareholder of Agomab in 2021 following the acquisition of its investee Origo Biopharma.
Origo Biopharma was founded in Galicia in 2017, as a spin-out of GalChimia for the development of fibrosis drugs. It was financially backed by Asabys Partners and Xesgalicia – the venture capital investment arm of the Xunta de Galicia – who led the first investment round in June 2020, which allowed the company to incorporate talent, increase its product portfolio and advance to clinical phases. Following its advances in products for fibrosing Crohn’s disease and idiopathic pulmonary fibrosis, now AGMB-129 and AGMB-447, it attracted the interest of Agomab in 2021, which it became part of. Agomab maintains its R&D centre in the Touro Business Park (A Coruña), from where it continues to advance its projects with a Galician accent.
The Series D proceeds will be used to continue advancing in the clinical development of Agomab’s lead candidate, AGMB-129, an oral small molecule inhibitor of ALK5 (TGFβ1R) with activity restricted to the intestine for patients with fibrosing-stenosing Crohn’s disease (FSCD). Interim data from the Phase 2a STENOVA trial are expected in the first quarter of 2025. In addition, the proceeds will be used to advance the clinical development of AGMB-447, a small molecule inhaled ALK5 inhibitor with activity restricted to the lung, which is currently in a Phase 1 clinical trial in healthy volunteers and in patients with Idiopathic Pulmonary Fibrosis (IPF), as well as in early clinical development of AGMB-101, a full MET agonist antibody that the company intends to develop for liver cirrhosis and is currently in the final stages of IND studies.
“We are delighted to have Sanofi and Invus join our investor syndicate. Their investment, as well as the continued support of our existing shareholders, is further validation of the pioneering work our team is doing in the fields of fibrosing Crohn’s disease and idiopathic pulmonary fibrosis,” said Tim Knotnerus, CEO of Agomab Therapeutics. “With this round of financing we will create greater optionality and the capital will allow us to accelerate our efforts in developing our potential new therapies.”
About Agomab
Agomab focuses on achieving disease modification by modulating fibrosis and regeneration in chronic indications such as fibrosing Crohn’s disease and idiopathic pulmonary fibrosis. To do this, we target biologically validated pathways, such as Transforming Growth Factor β and Hepatocyte Growth Factor, and apply specialised capabilities in small molecules with restricted target organ activity and high-affinity antibodies. Agomab is building a leading biopharmaceutical company, with a portfolio of differentiated clinical products in several fibrotic disorders, comprehensive research and development capabilities, a proven track record in BD and a strong investor base.
Contact
For Agomab Therapeutics
Tim Knotnerus, CEO
E-Mail: tim.knotnerus@agomab.com
Communication Topics for Agomab
Dr. Stephanie May
Trophic Communications
Tel.: +49 171 1855682
E-Mail: agomab@trophic.eu
