- EQT Life Sciences invests together with other new investors Fidelity Management & Research Company, Canaan and Dawn Biopharma, a platform controlled by KKR
- Proceeds will support clinical stage lead candidate AGMB-129 for Fibrostenosing Crohn’s Disease and the development of an innovative pipeline of anti-fibrotic and regenerative therapies, including AGMB-447 for idiopathic pulmonary fibrosis and AGMB-101 and AGMB-102 for inflammatory and fibrotic indications
Amsterdam, the Netherlands, October 11, 2023 – EQT is pleased to announce that the LSP 7 fund (“EQT Life Sciences”) has invested in Agomab Therapeutics NV‘s (“Agomab” or “the Company”) USD 100 million (EUR 95 million) Series C financing. Other new investors include Fidelity Management & Research Company, Canaan, Dawn Biopharma, a platform controlled by KKR. Existing investors also participated.
The new capital will support the recently announced STENOVA Phase 2a clinical trial that is evaluating Agomab’s lead candidate AGMB-129, a gut-restricted small molecule inhibitor of ALK5, in patients with Fibrostenosing Crohn’s Disease (FSCD). In parallel to the start of Ph2a, AGMB-129 was also granted U.S. FDA Fast Track designation. Fibrotic strictures occur in up to 50 per cent of Crohn’s Disease patients and are the leading cause of bowel resection surgery, however there are no approved therapies for FSCD. Earlier this year, Agomab announced positive Phase 1 results that showed that single- and multiple-dose oral AGMB-129 were safe and well-tolerated at all doses tested and confirming gastro-intestinal (GI)-restricted exposure.
In addition, the proceeds will be used to advance and expand Agomab’s portfolio of growth factor-targeting drug candidates, including AGMB-447, a Phase 1-ready small molecule lung-restricted inhibitor of ALK5 for the treatment of Idiopathic Pulmonary Fibrosis and AGMB-101 and AGMB-102, cMET agonistic antibodies for the treatment of fibrotic and degenerative disorders. The proceeds will also enable strategic expansion of the organization and fund general corporate purposes.
As part of the Series C funding round, Felice Verduyn - van Weegen, representing EQT Life Sciences, will join Agomab’s Board of Directors. Iyona Rajkomar, representing Dawn Biopharma, a platform controlled by KKR, and Colleen Cuffaro, representing Canaan, will join as Board Observers.
“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. “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.”
“We have followed Tim and the team for years and believe that this is the right moment to join the company’s journey,” added Felice Verduyn - van Weegen, Partner within the EQT Life Sciences team. “We are very impressed by Agomab’s scientific approach, strong team and mission to discover and develop drug candidates for fibrotic diseases, which remain underserved by current treatments available.”
EQT Press Office, firstname.lastname@example.org, +46 8 506 55 334
Felice Verduyn-van Weegen, Partner, Sryvpr.email@example.com
Agomab is translating a deep expertise in growth factor biology to pioneer and develop novel treatments that aim to resolve fibrosis, repair tissue structure, and restore organ function. By combining new scientific insights with robust drug development and a long-term corporate vision, we are building a broad clinical pipeline of differentiated programs with disease modifying potential in fibrotic diseases.
Agomab’s pipeline of growth factor targeting antibodies and small molecule compounds includes its lead candidate AGMB-129, a gastrointestinal tract restricted ALK5 inhibitor for which it has recently started a Phase 2a clinical trial in Fibrostenosing Crohn’s Disease and received U.S. FDA Fast Track Designation. The second TGFß targeting pipeline candidate, AGMB-447, is a Phase-1-ready lung-restricted ALK5-inhibitor for treatment of idiopathic pulmonary fibrosis. AGMB-101 is an HGF-mimetic cMET receptor agonist in IND-enabling development for the treatment of fibrotic disorders.
About EQT Life Sciences
EQT Life Sciences was formed in 2022 following the integration of LSP, a leading European life sciences venture capital firm, into the EQT platform. As LSP, the firm raised over EUR 3.0 billion and supported the growth of more than 150 companies since it started to invest over 30 years ago. With a dedicated team of highly experienced investment professionals coming from backgrounds in medicine, science, business, and finance, EQT Life Sciences backs the smartest inventors who have ideas that could truly make a difference for patients. The team combines deep sector knowledge, analytical skills, and investment experience to provide the added value that inventors seek.
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