AgomAb Therapeutics raises $74 million in Series B financing

Belgium’s AgomAb Therapeutics says it has closed a $74 million Series B financing round led by Redmile Group, which will further advance its lead compound AGMB-101.

There was also participation from Cormorant Asset Management. All previous investors also participated in the round, including Advent France Biotechnology, Andera Partners, Boehringer Ingelheim Venture Fund, Omnes Capital, Pontifax, and V-Bio Ventures.

The proceeds will be used to fund clinical proof-of-concept of the lead program AGMB-101, an HGF-mimetic agonistic antibody, which is currently progressing through investigational new drug (IND)-enabling studies. The capital will also support further growth of the company’s pipeline of drug candidates designed to modulate regenerative pathways to induce functional organ recovery in acute and chronic diseases. In conjunction with the financing round, a Redmile representative will join the board of directors.