Belgian anti-fibrosis biotechnology company AgomAb Therapeutics (AGMB.US) launches a US IPO with plans to raise $200 million.

Belgium-based biotechnology company AgomAb Therapeutics (AGMB.US) announced its IPO terms on Thursday in the US East Coast time. The company focuses on developing TGF inhibitors for Crohn's disease and other fibrotic diseases. The company plans to issue 12.5 million shares at a price of $15 to $17 per share, raising $200 million. Based on the midpoint of the proposed offering price range, AgomAb Therapeutics' fully diluted market value would reach $875 million. AgomAb Therapeutics is a clinical-stage biopharmaceutical company dedicated to developing innovative disease-modifying therapies for immune and inflammatory diseases. The company's initial strategy focuses on chronic fibrotic indications with high unmet medical needs, acting through the inhibition of the fibrotic key signaling pathway - transforming growth factor-beta (TGF) pathway. Its core candidate drug, ontunisertib (AGMB-129), is a selective, potent orally bioavailable gastrointestinal-restricted ALK5 (i.e., TGFR1) small molecule inhibitor, mainly targeting fibrostenotic Crohn's disease (FSCD). Another clinical-stage candidate drug, AGMB-447, is an inhaled ALK5 small molecule inhibitor for the treatment of idiopathic pulmonary fibrosis (IPF). In addition, the company also has a preclinical-stage candidate drug - a HGF mimetic monoclonal antibody targeting liver fibrosis; the company has completed the required research for a new drug clinical trial application and is currently evaluating further development and strategic cooperation plans. AgomAb Therapeutics was founded in 2017 and plans to list on Nasdaq under the ticker symbol "AGMB". The joint book-running managers for this offering are J.P. Morgan, Morgan Stanley, Leerink Partners, and Van Lanschot Kempen. The company expects to complete the IPO pricing in February of this year.