Agomab secures $89 million Series D financing

Belgian biotech Agomab Therapeutics today announced a $89 million (82.1 million euros) Series D financing round, with participation from new investors Sanofi (Euronext: SAN) and Invus, as well as existing investors, adding to the $100 million Series C funding in October last year.

The Antwerp based company says the news proceeds will be used to further advance the ongoing clinical development of Agomab’s lead candidate, AGMB-129, a gut-restricted oral small molecule inhibitor of ALK5 (TGFβ1R), in patients with fibrostenosing Crohn’s disease (FSCD). Interim data from the Phase IIa STENOVA trial are expected in the first quarter of 2025.

In addition, 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 I clinical trial in healthy subjects and patients with idiopathic pulmonary fibrosis (IPF), as well as 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.