Cell and Gene Therapy Venture Financing Explodes as Belgium-based AgomAb Receives $74m B Series

Cell and Gene Therapy Venture Financing Explodes as Belgium-based AgomAb Receives $74m B Series

Financing in the regenerative medicine biotech market, especially for those firms developing cell and gene therapies, absolutely explodes as last year global financing for companies in this segment obliterated previous records with over $19 billion raised, double the 2019 number. The global market for regenerative therapies should triple by 2025 and a recent sizeable investment is looked at in Europe as a significant signal for others in the regenerative space (e.g. gene and cell therapies). For example, a Belgian-based biotech called AgomAB Therapeutics just raised $74 million in the latest move by investors highlighting just how hot this field becomes.

What does AgomAB do?

This firm has an ambitious vision to refine how the science understands regenerative medicine by actually harnessing antibodies that not only accelerate healing processes but also serve to take on metabolic, inflammatory, and fibrotic conditions.

Who are the investors?

Advent France Biotechnology, Andera Partners, Boehringer Ingelheim Venture Fund, Omnes Capital, Pontifax, and VBio Ventures.

Is this a large funding round for a venture with pre-clinical stage evidence?

Yes.

When was the last time the company raised money?

The company raised about $17.6 million just two years ago.

What is the new use of funds?

AgomAb now positions to progress its flagship monoclonal antibody into clinical trials. Developed based on tiny antibodies associated with llamas, this investigational product represents the action of hepatocyte growth factor (HGF) protein, a considerable promotion of cell growth and division.

The proceeds of the Series B will be used to fund clinical proof of concept of the lead program AGMB-101, an HGF-mimetic agonistic antibody, which is currently progressing through IND-enabling studies. The capital will also support further growth of the company’s pipeline of drug candidates designed to modulate regenerative pathways to induce functional organ recovery in acute and chronic diseases. In conjunction with the financing round, a Redmile representative will join the Board of Director

What kinds of medicinal applications are contemplated?

While HGF protein has considerable promise, it doesn’t remain in the blood that long. Hence, AgomAb develops monoclonal antibodies that use antibody technology from a partner organization known as argenx. With this technology, the company can bolster and harden the HGF-based approach offering more stability and boosted ability to pinpoint select human tissues that today’s existing players.

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