NGM Biopharmaceuticals
NGM Biopharmaceuticals is a privately held, clinical-stage biotechnology company developing monoclonal antibodies for rare diseases, including NGM120 (a GFRAL/GDF15 antagonist) for hyperemesis gravidarum and cancer cachexia, and aldafermin for primary sclerosing cholangitis.
- Company typePrivate
- Founded2008
- HeadquartersSouth San Francisco, United States
- Headcount101–250
- GTM typeB2B
- OfferingHardware or Manufacturing
What NGM Biopharmaceuticals does
NGM Biopharmaceuticals is a privately held, clinical-stage biotechnology company headquartered in South San Francisco, California, focused on discovering and developing novel biotherapeutics. Founded in 2008 and operating as a wholly owned subsidiary of NGM Bio Holdings, Inc., the company applies a biology-centric drug discovery approach that combines interrogation of disease-associated biology with protein engineering expertise. NGM Bio is a recognized pioneer in GDF15 biology and discovered GDF15's cognate receptor GFRAL, a platform insight that anchors its lead asset NGM120.
The pipeline consists of three clinical-stage programs and one preclinical platform. NGM120 is a GFRAL/GDF15 antagonist monoclonal antibody in Phase 2 development for two indications: hyperemesis gravidarum (EMERALD Phase 2, with first patient dosed in February 2025 at UK and Australian sites) and cancer cachexia (Phase 2 proof-of-concept). Aldafermin, an engineered FGF19 analog, is advancing toward a potential registrational trial in primary sclerosing cholangitis. NGM707 (dual ILT2/ILT4 antagonist) completed Phase 1/2 enrollment in advanced solid tumors, and NGM936 is a bispecific T cell engager targeting ILT3 in monocytic acute myeloid leukemia. The preclinical RI-ACT platform develops bispecific rapidly internalizing ADCs for solid tumors.
NGM Bio is pre-revenue and finances operations through venture capital, having raised approximately $540 million+ across multiple prior rounds and a $122 million Series A led by The Column Group in July 2024. The company employs 101-250 staff and is led by CEO Diana Peng Bockus and CMO Wendy Yeh, M.D. (appointed February 2025). Commercial revenue is expected to flow through traditional pharmaceutical channels to hospitals and specialty pharmacies once products are approved, with no pricing model yet established and no approved therapies on market.
NGM Biopharmaceuticals firmographics
Firmographics- Name
- NGM Biopharmaceuticals
- Legal name
- NGM Biopharmaceuticals, Inc.
- Website
- https://ngmbio.com
- Company type
- Private
- Founded year
- 2008
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- NGM Biopharmaceuticals is a privately held, clinical-stage biotechnology company developing monoclonal antibodies for rare diseases, including NGM120 (a GFRAL/GDF15 antagonist) for hyperemesis gravidarum and cancer cachexia, and aldafermin for primary sclerosing cholangitis.
- Ownership category
- akta.pro rank
NGM Biopharmaceuticals industry classification
Industry- Product category
- Rare Disease Biopharmaceuticals
- NAICS
- Research and Development in Biotechnology (except Nanobiotechnology) (541714)
- SIC
- Biological Products, (No Disgnostic Substances) (2836)
- akta.pro primary industry
- Monoclonal Antibody Therapeutics (mAbs) (HLAAAAAA)
Keywords
Where NGM Biopharmaceuticals is headquartered
LocationHeadquarters
- HQ city
- South San Francisco
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
NGM Biopharmaceuticals business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Supply Chain
Revenue model
- Pharmaceutical Product Sales: Pre-revenue clinical-stage biotech company. Expects to generate revenue through sales of approved pharmaceutical products upon successful completion of clinical trials and regulatory approval. Currently developing NGM120 for hyperemesis gravidarum and cancer cachexia, and aldafermin for primary sclerosing cholangitis.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels5 records
NGM Biopharmaceuticals product offering
Product offeringCore offering
NGM Biopharmaceuticals is a clinical-stage biopharmaceutical company that discovers and develops novel biotherapeutics, primarily monoclonal antibodies and antibody-drug conjugates, for rare diseases with high unmet medical need. Its pipeline includes NGM120 (a GDF15/GFRAL antagonist antibody in Phase 2 trials for hyperemesis gravidarum and cancer cachexia), aldafermin (an FGF19 analog for primary sclerosing cholangitis), NGM707 (dual ILT2/ILT4 antagonist for solid tumors), NGM936 (bispecific T cell engager for acute myeloid leukemia), and the preclinical RI-ACT bispecific ADC platform.
Product overview
NGM Biopharmaceuticals is a clinical-stage, privately held biotechnology company developing a portfolio of novel therapeutics. The core products include NGM120 (GFRAL antagonist antibody in Phase 2 for Hyperemesis Gravidarum and Cancer Cachexia), aldafermin (FGF19 analog for Primary Sclerosing Cholangitis), NGM707 (dual ILT2/ILT4 antagonist for solid tumors), and NGM936 (bispecific T cell engager for hematological malignancies). Preclinical programs include RI-ACT™ bispecific ADC platform for solid tumors. The company's biology-centric drug discovery approach integrates disease biology interrogation with protein engineering expertise.
Differentiator
Problem solved
Functional benefit
Products and services
- NGM120
- Aldafermin
- NGM707
- NGM936
- RI-ACT (Bispecific Rapidly Internalizing ADC Cancer Therapeutics)
Quantifiable outcome
- NGM120 generally well-tolerated in over 200 participants treated in clinical trials to date
- +4 more outcomes
Companies that use NGM Biopharmaceuticals
Customer profileSegments3 records
Ideal customer profiles3 records
NGM Biopharmaceuticals technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
NGM Biopharmaceuticals partnerships and signals
Strategic signalScale indicators4 records
Recent moves6 records
Expansion highlights6 records
NGM Biopharmaceuticals competitors and assessment
Company assessmentDirect peers
- Vir Biotechnology: Clinical-stage immunology-focused biotech based in San Francisco that has developed multiple antibody therapeutics through partnerships with major pharma. Comparable to NGM Bio as a Bay Area antibody developer with similar management pedigree (Wendy Yeh joined NGM from Vir) and parallel clinical development model.
- Intercept Pharmaceuticals: Liver disease-focused biotech that developed obeticholic acid for primary biliary cholangitis and explored PSC. Directly comparable to NGM Bio's aldafermin program given shared focus on cholangiopathies and the registrational/regulatory pathway for rare liver diseases.
- Apellis Pharmaceuticals: Clinical-stage biotech that advanced rare disease therapeutics (geographic atrophy, PNH) from Phase 2 through approval using novel biologics mechanisms. Comparable to NGM Bio as a developer of biologic therapeutics for rare indications with limited treatment options and similar pathway to first-in-class approval.
- Provention Bio: Clinical-stage biotech focused on immune-mediated diseases, acquired by Sanofi in 2023. Comparable to NGM Bio given similar pre-revenue clinical-stage model and eventual pharma acquisition as a value-realization pathway for rare disease assets.
- CytomX Therapeutics: Clinical-stage oncology biotech developing masked antibody therapeutics including probody-drug conjugates. Comparable to NGM Bio as a developer of differentiated antibody engineering platforms targeting oncology with platform optionality beyond single assets.
- Mersana Therapeutics: Clinical-stage biotech developing next-generation antibody-drug conjugates with novel payload and linker technologies. Directly comparable to NGM's RI-ACT ADC platform given shared focus on improving ADC internalization and tumor selectivity.
- Arcus Biosciences: Clinical-stage oncology biotech developing immuno-oncology combinations including anti-TIGIT antibodies. Comparable to NGM Bio's NGM707 (immuno-oncology antibody) program given similar mechanism exploration of immune checkpoint blockade for solid tumors.
Emerging players
- Principia Biopharma: Bay Area biotech developing small-molecule and biologic therapies for immunology; acquired by Sanofi in 2020. Wendy Yeh's prior tenure at Principia makes it a strong people/operating-model peer, and its exit via acquisition illustrates one potential outcome path for NGM Bio.
- Mirati Therapeutics: Clinical-stage precision oncology company that was acquired by Bristol-Myers Squibb in 2024. Comparable to NGM Bio's oncology development model, particularly for NGM707 and NGM936 programs targeting hematologic malignancies and solid tumors, with a recent exit precedent.
Broad incumbents
- ImmunoGen: Established ADC-focused biotech acquired by AbbVie in 2024. Comparable to NGM's RI-ACT ADC efforts given shared focus on antibody-drug conjugate platforms, and serves as a recent benchmark for ADC-platform M&A valuations.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat3 records
Key risks6 records
Key highlights6 records
Customer concentration
NGM Biopharmaceuticals social profiles
Digital presenceNGM Biopharmaceuticals financial estimates
Financial estimateRevenue estimate
Valuation estimate
NGM Biopharmaceuticals leadership team
Management profileNumber of profiles
Profiles9 records
NGM Biopharmaceuticals funding detail
Funding detailFunding overview
Funding rounds7 records
Investors9 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
NGM Biopharmaceuticals M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about NGM Biopharmaceuticals
What does NGM Biopharmaceuticals do?
NGM Biopharmaceuticals is a clinical-stage biopharmaceutical company that discovers and develops novel biotherapeutics, primarily monoclonal antibodies and antibody-drug conjugates, for rare diseases with high unmet medical need. Its pipeline includes NGM120 (a GDF15/GFRAL antagonist antibody in Phase 2 trials for hyperemesis gravidarum and cancer cachexia), aldafermin (an FGF19 analog for primary sclerosing cholangitis), NGM707 (dual ILT2/ILT4 antagonist for solid tumors), NGM936 (bispecific T cell engager for acute myeloid leukemia), and the preclinical RI-ACT bispecific ADC platform.
Is NGM Biopharmaceuticals a public or private company?
NGM Biopharmaceuticals is a private company. It is classified as venture growth investor backed and is currently operating.
When was NGM Biopharmaceuticals founded?
NGM Biopharmaceuticals was founded in 2008. It employs 101 to 250 people.
Where is NGM Biopharmaceuticals based?
NGM Biopharmaceuticals is headquartered in South San Francisco, United States, in the North America region.
How does NGM Biopharmaceuticals make money?
One revenue line is on record: pharmaceutical Product Sales.
Who are NGM Biopharmaceuticals's main competitors?
Direct peers on record are Vir Biotechnology, Intercept Pharmaceuticals, Apellis Pharmaceuticals, Provention Bio, CytomX Therapeutics, Mersana Therapeutics and Arcus Biosciences. Emerging players are Principia Biopharma and Mirati Therapeutics. ImmunoGen is listed as a broad incumbent.
Does NGM Biopharmaceuticals have an API?
No public API is recorded for NGM Biopharmaceuticals.
What industry is NGM Biopharmaceuticals in?
NGM Biopharmaceuticals's product category is Rare Disease Biopharmaceuticals. Its primary akta.pro industry code is HLAAAAAA, Monoclonal Antibody Therapeutics (mAbs). Its NAICS code is 541714 and its SIC code is 2836.