Belgian clinical-stage biopharmaceutical group Agomab Therapeutics is targeting a valuation of up to $828.5 million in its upcoming U.S. IPO to help millions of people with Crohn’s disease.
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Fighting Crohn’s Disease
The company, which is developing a treatment for Crohn’s disease, filed for an IPO earlier this month. It revealed today that it aims to raise as much as $212.5 million by selling 12.5 million shares for between $15 and $17 each. The company will list on Nasdaq under the ticker symbol “AGMB.”
J.P. Morgan (JPM), Morgan Stanley (MS), Leerink Partners and Van Lanschot Kempen are underwriters for the offering.
Agomab is focused on developing treatments for immune and inflammatory diseases, starting with chronic fibrotic conditions.
Its pipeline includes ontunisertib (AGMB‑129), an oral, gut‑restricted ALK5 inhibitor being developed for fibrostenosing Crohn’s disease, a severe form of Crohn’s characterized by inflammation‑driven strictures that often lead to surgery.
FSCD is a severe complication of Crohn’s disease, or CD, that is associated with significant morbidity. There are approximately 1.4 million patients under treatment for CD in the seven major markets of the United States, France, Germany, Italy, Spain, the United Kingdom and Japan, and approximately 620,000, or 46%, of these patients have FSCD.
It hopes to start a Phase 2b trial of ontunisertib in patients with symptomatic FSCD in the second half of 2026.
Latest Biopharma IPO
It is also targeting IPF, which is a rare progressive fibrotic lung disease that has a poor prognosis for patients with a median life expectancy of less than five years. IPF affects approximately 240,000 people in the United States, Japan, the United Kingdom, and the four largest European markets (France, Germany, Spain, and Italy), with 30,000 to 40,000 new cases being diagnosed each year in the United States alone.
Its AGMB-447 drug is currently in its Phase 1 trial.
The company posted a net loss of around $54 million for the nine months ended September 30, 2025, compared with a loss of $41 million in the year-earlier period. The IPO will therefore be crucial to attract new capital.
Biotech IPOs have been one of the early highlights of 2026. Other drug developers such as Veradermics and Eikon Therapeutics have also filed for IPOs this month.
That’s clearly been driven by excitement around finding treatments for crippling medical conditions. Stable market conditions and a backlog built up after the extended October U.S. government shutdown have also helped to accelerate the pace of new offerings.
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