Agomab Therapeutics announced a $89 million (€82.1 million) Series D funding round, with participation from new investors Sanofi and Invus, as well as existing investors.
The proceeds from this Series D funding round will be used to further advance the ongoing clinical development of Agomab’s lead candidate AGMB-129, which is a gut-restricted oral small molecule inhibitor of ALK5 (TGFβ1R), in patients with fibrostenosing Crohn’s disease (FSCD). And interim data from the Phase 2a STENOVA trial are expected in the first quarter of 2025.
These proceeds will be used to advance the clinical development for AGMB-447, a lung-restricted inhaled small molecule inhibitor of ALK5, that is currently in a Phase 1 clinical trial in healthy subjects and patients with idiopathic pulmonary fibrosis (IPF), and initial clinical development of AGMB-101, a full MET agonistic antibody currently in the final stages of IND-enabling studies, which the company intends to develop for liver cirrhosis.
KEY QUOTES:
“We are thrilled to have Sanofi and Invus joining our investor syndicate. Their investment as well as the continued support from our existing shareholders is another validation of the trailblazing work our team is conducting in the fields of fibrostenosing Crohn’s disease and idiopathic pulmonary fibrosis. Through this financing round we will create further optionality and the capital will allow us to accelerate our efforts in developing our novel potential therapies.”
-Tim Knotnerus, Chief Executive Officer at Agomab Therapeutics
