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.

AgomAb Therapeutics, a US-based regenerative therapy developer spun out of University of Torino, has completed a $74m series B round backed by V-Bio Ventures, the venture firm aligned with VIB.
Hedge fund manager Redmile Group led the round, which also featured Boehringer Ingelheim Venture Fund, the corporate venturing arm of pharmaceutical firm Boehringer Ingelheim.
Cormorant Asset Management, Advent France Biotechnology, Andera Partners, Omnes Capital and Pontifax filled out the round.
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.
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, chief executive of AgomAb, 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 previously led a $23.8m series A round in April 2019, investing with Boehringer Ingelheim Venture Fund, Omnes and Pontifax.
– A version of this article first appeared on our sister site, Global Corporate Venturing.