Agomab Therapeutics closed a Series C funding round, securing USD100 million that will be allocated toward the progression of its portfolio centered on fibrosis, with AGMB-129 leading the way.

Belgium: The renewed funding obtained from Series C financing will be used to back the recently disclosed STENOVA Phase 2a clinical trial, which aims to assess the leading candidate, AGMB-129, an ALK5 inhibitor designed to act in the gut, for patients with Fibro stenosing Crohn's Disease (FSCD). Concurrently with the launch of Phase 2a, AGMB-129 secured Fast Track designation from the U.S. FDA. Fibrotic constrictions are a common issue in up to half of Crohn's Disease patients and are the primary reason for bowel resection surgery, yet there are no approved treatments for FSCD. Earlier this year, Agomab reported favorable Phase 1 findings, indicating the safety and tolerability of AGMB-129 at all tested dosages, and confirming its targeted exposure within the gastrointestinal (GI) tract.

Furthermore, the funds will be utilized to advance and broaden Agomab's collection of growth factor-targeting drug candidates. This includes AGMB-447, a Phase 1-ready small molecule inhibitor of ALK5 specifically designed for lung-related treatment of Idiopathic Pulmonary Fibrosis, as well as AGMB-101 and AGMB-102, which are cMET agonistic antibodies aimed at addressing fibrotic and degenerative disorders. The funding will also support the organization's strategic expansion and cover general corporate expenses. In the context of the Series C funding round, Felice Verduyn - van Weegen, representing EQT, will take a seat on Agomab's Board of Directors, while Iyona Rajkomar, representing Dawn Biopharma, a platform under KKR's control, and Colleen Cuffaro, representing Canaan, will participate as Board Observers.

According to the Chief Executive Officer of Agomab Therapeutics, “I am very pleased to be able to work with the new board to further develop our potentially game-changing therapeutics for the many patients in high need for anti-fibrotic therapies. With the addition of these world-class investors, we continue to build the company as a leader in the field of fibrosis and have secured the funding required to conduct clinical studies for multiple drug candidates”.

According to TechSci Research, Fibrosis is a complex, often devastating, medical condition that affects various organs in the human body, leading to tissue scarring and compromised organ function. Over the years, research and development in the field of fibrosis have gained significant momentum. The advent of novel therapies and a deeper understanding of the disease have ignited hope for millions of patients suffering from fibrotic disorders. The advancing fibrosis-focused pipeline is a beacon of hope for patients living with fibrotic disorders. With a growing understanding of the molecular mechanisms underlying these conditions and the development of innovative therapies, there is a real possibility of slowing, halting, or even reversing the progression of fibrosis in affected organs.

Chronic diseases like pulmonary fibrosis, liver cirrhosis, and systemic sclerosis are becoming more common. As the global population ages and lifestyle factors such as smoking and obesity contribute to the rise in these conditions, the demand for effective fibrosis treatments is on the rise. Pharmaceutical companies, academic institutions, and research organizations are increasingly collaborating to accelerate the development of novel fibrosis treatments. These partnerships facilitate the sharing of resources and expertise, ultimately speeding up the drug development process.