Agomab Therapeutics NV today announced the closing of a $100 million Series C financing round led by Fidelity Management & Research Company (FMR), with participation from new investors EQT Life Sciences (EQT), Canaan, Kohlberg Kravis Roberts & Co (KKR Dawn) and existing investors Asabys , member of CataloniaBio & HealthTech, (through its funds Sabadell Asabys and Top Up Fund), Pfizer, Pontifax, Redmile, Cormorant, Andera Partners, AdBio and Walleye.
The new capital will support the Phase 2a clinical trial evaluating Agomab’s lead candidate AGMB-129, a gut-restricted small molecule inhibitor of ALK5, in patients with Fibrostenosing Crohn’s Disease. In parallel to the initiation of Phase 2a, the candidate has also recently received Fast track designation from the U.S. regulatory agency, the FDA.
In addition, the proceeds will be used to advance and expand Agomab’s portfolio of growth factortargeting drug candidates, who come mainly from the acquisition of Origo Biopharma, Spanish company that was backed by Asabys in 2020 and acquired by Agomab in 2021.
“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,” said Tim Knotnerus, Chief Executive Officer at Agomab Therapeutics.
Clara Campàs, Founding and Managing Partner at Asabys, mentions “We want to give a warm welcome to the new investors and congratulate Agomab’s team for the amazing progress achieved so far. This round is a validation of the company’s promising therapeutic potential in major indications, and we are happy to be able to keep supporting the assets initially developed by Origo”.
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