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Agomab adds $100M in series C funds to push ALK5 inhibitor ALK5 inhibitor through phase 2 Crohn's trial

2023-10-11

临床1期快速通道临床2期并购IPO

Some of Agomab Therapeutics' new cash will be used to "enable strategic expansion of the organization."

A week aAgomab Therapeuticsead asset into a phase 2 trial for a type of Crohn’s disease, Agomab Therapeutics has secured $100 million in series C financing to power up its pipeline.

The Belgian biotech will use part of the new capital to fund the trial, Crohn’s disease36Agomab Therapeuticsostenosing Crohn’s given the ALK5 inhibitor, dubbed AGMB-129. The gut-restricted small-molecule inhibitor has also recently received an FDA fast-track tag, having been shown to be safe at all dose levels tested in a phase 1 study earlier this year.

The latest funding round was led by Fidelity Management & Research Company with new investors hopping abfibrostenosing Crohnife Sciences ALK5 inhibitor ALK5Dawn Biopharma, aloAGMB-129xisting backers. It follows a $40.5 million extension to a series B round leFDAy Pfizer last year.

Agomab has been busy since unveilingFidelity Management & Research Companyn 2019 with the aim of developing agonistic monoclonal antibodies—or “agomAbs”—that can potentially treat a variety of diseases. Based in Ghent, Belgium, the biotech was foundPfizern the work of Paolo Michieli, Ph.D., who has researched hepatocyte growth factor, or HGF, at the University of Torino for more than two decades. HGF plays a role in cell functions such as proliferation, survival and differentiation and can promote wound healing and tissue regeneration.

In 2021, Agomab bought Origo Biopharma, adding small-molecule drug candidates that target the transforming growth factor beta, including AGMB-129. The deal shifted the focus of Agomab, catching the attention of Pfizer and leading to the biotech gaining a coveted place on the Fierce 15 list in 2022.hepatocyte growth factor HGF University of Torino HGF

The compaAgomabopes areOrigo Biopharmacan be used in combination with other Crohn’s drugs to htransforming growth factor betatop the scarAGMB-129those with fibrostenotic diseaseAgomab could be a sizable market—aPfizer800,000 people are estimated to have Crohn’s in the U.S., around half of whom will be impacted by the fibrostenotic form.

The biotech will also channelAGMB-129 its nine-figure fundraise across the rCrohn’s drugspeline, which includes an inhaled ALK5 inhibitor called AGMB-447 fofibrostenotic diseasey fibrosis, as well as the MET agonists AGMB-101 and AGMB-102, which are beinCrohn’sted at organ failure and fibrotic indications, respectively.

Some cash will also be used to “enable strategic expansion of the organization and fund general corporate purposes,inhaledbALK5 inhibitor ALK5ed in the release.AGMB-447 idiopathic pulmonary fibrosis MET agonists MET AGMB-101 AGMB-102

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