AgomAb Therapeutics, a Belgian Phase 2 biotech developing TGFβ inhibitors for Crohn's and other fibrotic diseases, announced terms for its IPO on Thursday.
The Antwerp, Belgium-based company plans to raise $200 million by offering 12.5 million shares at a price range of $15 to $17. At the midpoint of the proposed range, AgomAb Therapeutics would command a fully diluted market value of $875 million.
AgomAb Therapeutics is a clinical-stage biopharmaceutical company focused on developing novel disease-modifying therapies for immunology and inflammatory diseases. The company's initial focus is on chronic fibrotic indications with high unmet medical need, by inhibiting a key signaling pathway involved in fibrosis, the transforming growth factor ß, or TGFß, pathway. Lead product candidate ontunisertib (AGMB-129) is a selective and potent oral, gastrointestinal-restricted small molecule inhibitor of ALK5, or TGFßR1, targeting Fibrostenosing Crohn’s Disease, or FSCD. Second clinical-stage candidate AGMB-447 is an inhaled small molecule inhibitor of ALK5 for idiopathic pulmonary fibrosis (IPF). AgomAb also has a preclinical candidate, a HGF-mimetic monoclonal antibody targeting liver cirrhosis; the company concluded IND-enabling studies but is assessing further development and strategic options.
AgomAb Therapeutics was founded in 2017 and plans to list on the Nasdaq under the symbol AGMB. J.P. Morgan, Morgan Stanley, Leerink Partners, and Van Lanschot Kempen are the joint bookrunners on the deal. The company is expected to price its IPO in February.
