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Companies

NGM Bio

Antibody drugs for pregnancy nausea and cancer wasting

Raised to date

$142M

of $142M offered across 1 Form D filing

Investors
26
Last filed
Mar 27, 2026

About

NGM Bio Holdings is the parent company of NGM Biopharmaceuticals, a privately held clinical-stage biotechnology company in South San Francisco that discovers and develops antibody and protein therapeutics from its own biology-led discovery engine. Its lead candidate NGM120 is a GFRAL antagonist antibody that blocks GDF15 signaling, in Phase 2 development for hyperemesis gravidarum (the EMERALD study) and for cancer cachexia. A second program, aldafermin, is an engineered analog of the human hormone FGF19 in development for primary sclerosing cholangitis. The company was taken private from Nasdaq by longtime investor The Column Group in April 2024 and refinanced with a Series A the following July.

A biology-first discovery engine that generated every candidate in its pipeline in house, now concentrated on the GDF15/GFRAL axis - a mechanism with no approved therapy - in indications such as hyperemesis gravidarum and cancer cachexia where current care is largely supportive.

Funding

  • EquityFiled Mar 27, 2026Form D/A
    $142M/ $142M

Product

NGM120

Clinical-stage biologic therapeutic

An investigational monoclonal antibody antagonist of GFRAL, the receptor for GDF15, designed to block GDF15 signaling in brainstem cells that trigger nausea, vomiting and appetite suppression.

  • GFRAL antagonist antibody blocking GDF15 signaling
  • Phase 2 EMERALD study in hyperemesis gravidarum in pregnant patients
  • Phase 2 proof-of-concept study in cancer cachexia

Built for

Patients with GDF15-driven conditions - pregnant patients with hyperemesis gravidarum and cancer patients with cachexia - reached through obstetric and oncology prescribers, hospital systems and payers

People on file