Agomab raises $100 million to advance fibrosis-focused pipeline

11 October 2023

With the aim of advancing its fibrosis-focused pipeline, Belgian biotech Agomab Therapeutics today announced the closing of a $100 million (94.9 million euros) Series C financing.

The round was led by Fidelity Management & Research Company, with participation from new investors EQT Life Sciences, Canaan, Dawn Biopharma, a platform controlled by KKR, and existing investors.

Agomab explained that the proceeds from the financing will support the recently announced STENOVA Phase IIa clinical trial evaluating Agomab’s lead candidate AGMB-129, a gut-restricted small molecule inhibitor of ALK5, in patients with fibrostenosing Crohn’s disease (FSCD). In parallel to the start of Phase IIa, AGMB-129 was also granted US Food and Drug Administration (FDA) fast track designation.

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