NGM Biopharmaceuticals, Inc. (NGM Bio) is a privately held biotechnology company based in South San Francisco focused on discovering and developing novel, life-changing medicines. Its core pipeline includes aldafermin, an engineered FGF19 analog, and NGM120, a GDF15/GFRAL antagonist antibody—both discovered through the company’s in‑house discovery engine. The company will use proceeds from a newly announced $122 million Series A to initiate a planned registrational trial of aldafermin for primary sclerosing cholangitis (PSC) and to complete a planned Phase 2 trial of NGM120 for hyperemesis gravidarum (HG); both trials are expected to begin in Q4 2024. Aldafermin has prior Phase 2 clinical data in PSC, and NGM Bio anticipates the registrational trial will utilize proposed surrogate endpoints with the goal of accelerated approval. NGM120’s development is rooted in a decade of GDF15 biology research and is designed to block GDF15 signaling through GFRAL to address nausea and vomiting in HG. The company completed a take-private transaction in April to bolster efficiency and flexibility and is a wholly owned subsidiary of NGM Bio Holdings, Inc. NGM Biopharmaceuticals develops therapeutics targeting diabetes, obesity, muscle wasting and other cardio-metabolic diseases. The company operates a drug-discovery platform based on the idea that certain genes are turned on or off during gastric bypass surgery, which may explain rapid improvements in diabetes. NGM has been engaged in basic scientific research for the past five years and plans to use recent financing to advance its portfolio into development. It maintains collaborations with Daiichi Sankyo, Janssen Pharmaceuticals, MedImmune and JDRF. The company's board includes industry veteran Art Levinson. Financially, NGM has raised over $130 million since its 2008 founding and is based in South San Francisco. NGM Biopharmaceuticals is dedicated to the discovery and development of transformational medicines. The company has created a proprietary discovery platform aimed at identifying and validating novel targets and factors that impact the underlying etiology of metabolic diseases. Using that platform, NGM is generating a pipeline of new drug candidates as novel treatments for diabetes, obesity, muscle wasting and cardiovascular disease. Financially, the company closed the first tranche of a $51M Series B round of financing. Investors in the tranche included The Column Group, Tichenor Ventures, Prospect Venture Partners, Rho Ventures and other new and Series A investors. In conjunction with the funding, McHenry (Mac) T. Tichenor, Jr. of Tichenor Ventures was appointed to the board. NGM Biopharmaceuticals is a South San Francisco–based company focused on developing new treatments for heart and metabolic diseases. The company raised $25 million in a first funding round and plans to devote the proceeds to R&D spending over the next three years. Investors in the round included Column Group, Prospect Venture Partners and Rho Ventures. NGM has described its approach using “post-genomic bioinformatics” and “new approaches to human biology,” but has not disclosed detailed plans. The company is being led on an acting basis by Tularik founder David Goeddel; chief scientific officer Jin-Long Chen previously served as a VP of biology at Tularik and headed Amgen’s metabolic-disorders unit. Its website was reported to be under construction at the time of the coverage.

Total raised

$248M

Funding rounds

4

Latest round

Series A

Latest activity

Jul 2024