AgomAb Therapeutics, a Belgian Phase 2 biotech developing novel therapies for chronic fibrotic disorders, raised $200 million by offering 12.5 million ADSs at $16, the midpoint of the range of $15 to $17.
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 plans to list on the Nasdaq under the symbol AGMB. J.P. Morgan, Morgan Stanley, Leerink Partners, and Van Lanschot Kempen acted as joint bookrunners on the deal.
