Agomab Therapeutics said that it has closed an $89 million Series D financing round that will support development of several candidates, including its AGMB-447 inhaled ALK5 inhibitor for the treatment of idiopathic pulmonary fibrosis (IPF). New investors participating in the round included Sanofi and private equity investor Invus.
In December 2023, Agomab announced the initiation of a Phase 1 trial of inhaled AGMB-447 in healthy subjects and IPF patients. That trial is still underway. Earlier this year, AGMB-447 for the treatment of IPF received orphan drug designation from the FDA.
Agomab CEO Tim Knotnerus commented, “We are thrilled to have Sanofi and Invus joining our investor syndicate. Their investment as well as the continued support from our existing shareholders is another validation of the trailblazing work our team is conducting in the fields of fibrostenosing Crohn’s disease and idiopathic pulmonary fibrosis. Through this financing round we will create further optionality and the capital will allow us to accelerate our efforts in developing our novel potential therapies.”
Read the Agomab Therapeutics press release.
