Sanofi supports Agomab's $89M Series D for fibrosis biotech

Agomab Therapeutics, a biotech company based in Antwerp, has recently secured substantial financial backing from significant investors, including Sanofi and Invus, in its latest $89 million Series D funding round. This new investment comes just a year after the company raised $100 million in its Series C round, which remains largely unused according to CEO Tim Knotnerus.

The interest from Sanofi, driven by its strategic focus on becoming a leader in immunology, prompted Agomab to reconsider its funding needs. After consulting with the board, the company reached out selectively to potential investors, managing to close the round in just one month. This rapid influx of funds will support several key projects in Agomab’s pipeline.

Agomab is currently advancing its lead therapy, an oral small molecule designed for a subset of Crohn’s disease patients, through a Phase 2a clinical trial. This therapy, known as AGMB-129, specifically targets fibrostenosing Crohn’s disease, a form that affects nearly half of all Crohn’s patients. With FDA fast track designation, the company expects to present interim results for the first 40 out of 90 trial participants by early 2025. The therapy employs a gut-restricted ALK5 inhibitor, engineered to minimize systemic exposure and thereby reduce the risk of associated cardiotoxicity.

In addition to its Crohn’s disease treatment, Agomab is also developing another oral drug candidate for idiopathic pulmonary fibrosis (IPF), currently in Phase 1 trials. IPF is a severe condition that causes progressive lung scarring, significantly impairing respiratory function and leading to high mortality within five years of diagnosis. Existing treatments from companies like Boehringer Ingelheim and Roche were approved a decade ago, and new entrants to the market are striving to develop next-generation therapies. Agomab's approach with its lung-restricted ALK5 inhibitor aims to provide a more targeted treatment option for IPF patients.

Next year promises to be a pivotal period for the company, with anticipated healthy volunteer data from the Phase 1 IPF trial expected in the first half of the year. Additionally, Agomab aims to advance a MET agonistic antibody into human studies for liver cirrhosis, further diversifying its clinical portfolio.

Agomab’s growth trajectory has been impressive since it emerged in 2019 with a $23 million Series A funding. This was followed by a $74 million Series B in 2021, during which it also acquired the Spanish startup Origo Biopharma. The company has expanded its operations, now boasting a team of 60 employees and an additional office in Cambridge, Massachusetts.

Recent strategic hires include David Epstein, a former leader at Seagen, who joined Agomab’s board over the summer. Additionally, Pierre Kemula, who played a crucial role in taking CureVac public, is set to join as Chief Financial Officer starting November 1.

In summary, Agomab Therapeutics is strategically positioned to make significant advances in the treatment of Crohn’s disease, IPF, and liver cirrhosis, backed by substantial new investments and a strong leadership team. The company’s focused approach on developing targeted therapies is aligned with emerging trends in biotech, aiming to address unmet medical needs with innovative solutions.