Agomab Raises $208M IPO, Holds €116.5M Cash and Eyes H2 Trials
Agomab ended 2025 with €116.5 million in cash and raised $208 million in a February IPO, extending its cash runway into H1 2029. The company will initiate Phase 2b ontunisertib in Crohn’s fibrostenosing disease and Phase 2 AGMB-447 in IPF, with topline data expected in H2 2026.
1. Financial Position and IPO
Agomab closed 2025 with €116.5 million in cash, cash equivalents and short-term investments. A February IPO raised $208 million gross, extending the company’s cash runway into the first half of 2029.
2. Ontunisertib FSCD Program
Positive FDA interactions have aligned the Phase 2b design for ontunisertib in fibrostenosing Crohn’s disease, with study initiation planned for H2 2026. Topline results from the open-label STENOVA extension are also due in the second half of the year.
3. AGMB-447 IPF Program
Enrollment continues in the Phase 1b IPF cohort of inhaled AGMB-447, with topline data expected in H2 2026. The UK MHRA provided positive scientific advice for the planned Phase 2 proof-of-concept trial, and a U.S. patent on AGMB-447 composition was granted.
4. Expense Trends
Research and development expenses rose to €48.9 million in 2025 from €39.3 million in 2024, driven by outsourced clinical trial activities for the two lead programs. General and administrative costs remained in line with corporate expansion and IPO-related expenditures.