Major Pfizer-led financing boost for Agomab (Flanders)
Based in Ghent (Flanders), Agomab Therapeutics specializes in molecular therapies for the regeneration of damaged tissues. To support the next stage of its clinical and corporate development, the biotech firm has extended its Series B financing round. In March 2022, it raised USD 74 million in a capital round led by Redmile Group. Some four months later, with American pharmaceutical juggernaut Pfizer leading the extension, another USD 40.5 million has been added. This brings the total amount to USD 114 million.
Highly valuable investors
Pfizer led the Series B extension with an investment through its Pfizer Breakthrough Growth Initiative. This initiative provides biotech companies with funding and access to Pfizer’s scientific expertise to support the most promising clinical development programs. Besides Pfizer and existing investors, Walleye Capital and Asabys Partners also participated in the additional financing round.
Agomab gains highly valuable investors with this Series B extension as well as funding that will support the company's development and future growth. Pfizer adds an extra layer of support with its deep expertise in the development of innovative treatments and its specific knowledge of our targets and indications.
Promising product pipeline
The freshly raised capital will be used to support the clinical evaluation of Agomab’s product candidates. It will also help to further expand the company’s product pipeline and organizational structure. Since its inception in 2017, Agomab has been developing therapies to repair damaged human tissue. Currently, the biotech company’s most advanced research involves a therapy for intestinal fibrosis.
Agomab is a highly innovative company. Its product pipeline holds promise to resolve fibrotic processes in a range of indications where there is a very high unmet medical need. We are proud to support its mission to help deliver new treatments for patients, and we look forward to bringing our expertise to help achieve it.
Flanders’ life sciences & health ecosystem at your fingertips
Agomab Therapeutics is just one of the many promising biotech companies that make Flanders’ business and research ecosystem for life sciences & health so successful. Want to unravel this ecosystem in a virtual yet interactive way? Head to the Flanders360 platform and discover 300+ successful companies, universities, R&D centers, incubators and other players active in Flanders’ life sciences & health industry.
Alternatively, check out our industry overview to learn more about the available tax, legal and other incentives for establishing your life sciences & health hub in Flanders.
Reported by
website Business Wire, website Bloovi
