Agomab Raises 82.1 Million from Sanofi, Invus and Asabys

Agomab raises funds. The biotech company has raised the amount of $90 million (82.1 million euros) in a Series D financing round , thanks to Asabys, which is investing again, being a shareholder since 2021 after the purchase of its subsidiary Origo Biopharma, and the new incorporation of Sanofi and Invus.

In October 2021, Agomab acquired Origon Biopharma, the Spanish clinical-stage biotech company developing organo-restrictive small molecules that inhibit the transforming growth factor beta signaling pathway for the treatment of fibrosis-related diseases. Origo was founded in 2018 and has a research center in Touro (Galicia) and corporate offices in Barcelona.

Series D proceeds will be primarily allocated to the continued clinical development of Agomab’s lead candidate, Agmb-129, which is an oral small molecule inhibitor of ALK5 with gut-regulated activity for patients with fibrostenosing Crohn’s disease (FSCD). Interim data from the Phase 2 Stenova trial are forecast for Q1 2025.

Agomab will allocate the funds to the clinical development of Agmb-129, Agmb-447 and Agmb-101

Proceeds will also be used to advance the clinical development of Agmb-447, a lung-restricted, small-molecule inhaled ALK5 inhibitor that is in a Phase 1 clinical trial in healthy volunteers and in Idiopathic Pulmonary Fibrosis (IPF), and for the early clinical development of Agmb-101, a full MET agonist antibody that the organization is seeking to develop for liver cirrhosis and is in late-stage IND studies.

“With this round of funding we will create greater optionality and the capital will allow us to accelerate our efforts in developing our potential new therapies,” said Tim Knotnerus, CEO of Agomab Therapeutics.

Agomab is a biotechnology company that applies its knowledge of growth factors to develop treatments that resolve fibrosis, repair tissue structure and restore organ function. In July 2022, the company closed a capital increase of $114 million with the support of Asabys and Pfizer.

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(Featured image by National Cancer Institute via Unsplash)

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