🏆 Deal of the Week · CW 41/2023
Agomab raised USD 100 million in a Series C financing round, announced in October 2023; the company's valuation was not disclosed. The round drew participation from eleven institutional and strategic investors, with no single lead investor publicly designated. The capital will advance Agomab's clinical pipeline targeting fibrosis and tissue repair.
Agomab — key deal facts
| Company | Agomab |
| Founded | 2017 |
| Headquarters | Antwerp, Belgium |
| Amount raised | USD 100M |
| Valuation | Valuation Remains Undisclosed |
| Round | Series C |
| Investors | AdBio partners (https://adbio.partners/) Andera Partners (https://www.anderapartners.com/en/) Canaan Partners (https://www.canaan.com/) Cormorant Asset Management Dawn Biopharma (https://dawnpharma.com/) EQT life science (https://eqtgroup.com/private-capital/life-sciences/) Fidelity Management and Research Company (https://www.fidelity.com/about-fidelity/our-company) Pfizer (https://www.pfizer.de/) Pontifax (https://www.pontifax.com/) Redmile Group (https://redmilegroup.com/) Walleye Capital (https://www.walleyecapital.com/) |
| Sectors | Biotechnology |
Who invested in Agomab?
The Series C syndicate includes AdBio Partners, Andera Partners, Canaan Partners, Cormorant Asset Management, Dawn Biopharma, EQT Life Sciences, Fidelity Management and Research Company, Pfizer, Pontifax, Redmile Group, and Walleye Capital. The presence of Pfizer alongside dedicated life-science vehicles such as EQT Life Sciences and Pontifax signals both strategic pharma interest and broad institutional conviction in Agomab's fibrosis platform. The mix of crossover funds — Cormorant, Redmile, Walleye, and Fidelity — further indicates that the company is being positioned for a potential public-markets event.
What does Agomab do?
Agomab Therapeutics is a clinical-stage biotechnology company founded in 2017 and headquartered in Antwerp, Belgium. The company develops organ-restricted small molecules and high-affinity antibodies that target growth factor biology pathways — specifically TGFβ and HGF — to resolve fibrosis, repair tissue structure, and restore organ function. Its lead candidate, ontunisertib (AGMB-129), is a gut-restricted ALK5 inhibitor in development for fibrostenosing Crohn's disease; additional pipeline assets include AGMB-447 for idiopathic pulmonary fibrosis and AGMB-101 targeting organ failure. The company is led by CEO Tim Knotnerus and operates as a pre-revenue private biotech.
Agomab valuation & multiples
No existing multiples analysis was provided for this deal. Once revenue and EBITDA benchmarks become available for Agomab or comparable fibrosis-focused clinical-stage biotechs, standard EV/Sales and EV/EBITDA ranges can be applied to contextualise the implied valuation. Explore Venionaire DealMatrix's biotechnology sector multiples pages for current peer-group benchmarks.
Explore the benchmarks: Series C.
Frequently asked questions
How much did Agomab raise in its Series C?
Agomab raised USD 100 million in its Series C round, announced in October 2023.
What is Agomab's valuation?
Agomab's valuation was not disclosed in connection with the Series C financing.
Who invested in Agomab?
The Series C investors include AdBio Partners, Andera Partners, Canaan Partners, Cormorant Asset Management, Dawn Biopharma, EQT Life Sciences, Fidelity Management and Research Company, Pfizer, Pontifax, Redmile Group, and Walleye Capital.
When was Agomab founded and where is it based?
Agomab was founded in 2017 and is headquartered in Antwerp, Belgium.
Source: original announcement — read the full report.