US-based regenerative therapy developer AgomAb Therapeutics has completed a $74m series B round that included Boehringer Ingelheim Venture Fund, the corporate venturing arm of pharmaceutical firm Boehringer Ingelheim.
Hedge fund manager Redmile Group led the round, which also featured Cormorant Asset Management, Advent France Biotechnology, Andera Partners, Omnes Capital, Pontifax and V-Bio Ventures.
AgomAb is developing monoclonal antibody drugs intended to repair tissue and restore organ function by modulating regenerative cellular pathways, in order to treat diseases and disorders based on inflammatory, metabolic or fibrotic processes. Its technology is based on research at the University of Torino.
The funding will support the progress of the company’s pipeline of therapeutic candidates, including a proof-of-concept study for its lead programme, an agonistic antibody known as AGMB-101 which is in investigational new drug-enabling studies.
Tim Knotnerus, AgomAb’s CEO, said: “The size and quality of this round reinforces the strong scientific foundation on which AgomAb was built and the support by our initial investors. It enables us to further accelerate our development progress and pipeline growth.
“Adding two top-tier US investors and expanding the leadership team is a very important strategic step for the company, supporting our vision of transforming regenerative medicine.”
V-Bio Ventures and Advent France Biotechnology had previously led the company’s $23.8m series A round in April 2019, investing with Boehringer Ingelheim Venture Fund, Omnes and Pontifax.
