Agomab Therapeutics has recently concluded a successful Series C financing round, raising an impressive $100 million (€94.9 million). The round was led by Fidelity Management & Research Company and featured participation from both new and existing investors. This substantial funding will play a pivotal role in advancing Agomab’s pioneering work in fibrosis treatment and supporting critical clinical trials.
Bolstering Clinical Trials for Fibrostenosing Crohn’s Disease
The newly acquired capital from the Series C financing will primarily facilitate the STENOVA Phase 2a clinical trial for AGMB-129, Agomab’s leading candidate. AGMB-129 is a gut-restricted small molecule inhibitor targeting ALK5. This trial will specifically evaluate its efficacy in patients suffering from Fibrostenosing Crohn’s Disease (FSCD).
It’s worth noting that fibrotic strictures affect up to 50% of Crohn’s Disease patients, often necessitating bowel resection surgeries. Unfortunately, there are currently no approved therapies for FSCD. Additionally, AGMB-129 has earned the prestigious U.S. FDA Fast Track designation. Earlier Phase 1 results have already demonstrated the safety and well-tolerance of AGMB-129 in various doses, confirming its gastrointestinal (GI)-restricted exposure.
Expanding the Portfolio
Agomab has broader ambitions beyond its lead candidate. The funds secured will also be allocated toward advancing and diversifying Agomab’s portfolio of growth factor-targeting drug candidates. Among them, AGMB-447, a small molecule lung-restricted inhibitor of ALK5, is poised to enter Phase 1 trials for the treatment of Idiopathic Pulmonary Fibrosis.
Additionally, AGMB-101 and AGMB-102, cMET agonistic antibodies designed for fibrotic and degenerative disorder treatment, are also part of this ambitious portfolio expansion. The financing will further support the organization’s strategic growth and address general corporate requirements.
As part of the Series C funding round, notable additions will join Agomab’s leadership. Felice Verduyn – van Weegen, representing EQT, will become a member of Agomab’s Board of Directors. Meanwhile, Iyona Rajkomar, representing Dawn Biopharma, and Colleen Cuffaro, representing Canaan, will join as Board Observers.
Agomab Therapeutics’ CEO, Tim Knotnerus, expressed optimism, stating, “With the addition of these world-class investors, we continue to build the company as a leader in the field of fibrosis and have secured the funding required to conduct clinical studies for multiple drug candidates.” He further added, “I am very pleased to be able to work with the new board to further develop our potentially game-changing therapeutics for the many patients in high need for anti-fibrotic therapies.”
Investor Confidence in Agomab
Felice Verduyn – van Weegen, Partner at EQT Life Sciences, highlighted the belief in Agomab’s mission and approach, stating, “We are very impressed by Agomab’s scientific approach, strong team, and mission to discover and develop drug candidates for fibrotic diseases, which remain underserved by current treatments available.”
Agomab Therapeutics has secured $100 million in Series C funding, led by Fidelity Management & Research Company, to advance their groundbreaking fibrosis treatments. The funding will support Phase 2a clinical trials for AGMB-129, a promising therapy for Fibrostenosing Crohn’s Disease (FSCD), and expand their portfolio of growth factor-targeting drug candidates. Investor confidence in Agomab’s innovative approach to fibrosis treatment remains strong.
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