NGM Bio

NGM Bio (NGM Biopharmaceuticals, Inc.) is a California-based biopharmaceutical company that develops medicines based on human biology insights for diseases with limited treatment options. Its lead candidate is NGM120, an antibody antagonist of GDF15 signaling through the GFRAL receptor, which is expressed on cells at the base of the brain involved in nausea and vomiting. NGM120 is being advanced in two indications rooted in overactivation of the GDF15 pathway: hyperemesis gravidarum (HG), evaluated in the EMERALD Phase 2 clinical trial, and cancer cachexia, evaluated in a Phase 2 proof-of-concept trial.

The company also holds aldafermin (formerly NGM282), an engineered FGF19 analog intended to reduce bile acid production, which it planned to take into a registrational trial in primary sclerosing cholangitis (PSC) using proposed surrogate endpoints with the aim of seeking accelerated approval from the FDA. An earlier international Phase 2 trial of aldafermin in PSC (NCT02704364), which randomized 62 adults to one of two aldafermin doses or placebo for about three months, did not meet its primary endpoint of reducing alkaline phosphatase, though reductions were reported in other liver damage markers, bile acids and fibrosis markers. Beyond NGM120, the company states it has partnering opportunities available for several liver and oncology programs.

Leadership includes Diana Peng Bockus as Chief Executive Officer and Wendy Yeh, M.D. as Chief Medical Officer, appointed in February 2025, alongside vice presidents covering finance, clinical development in oncology, biometrics, clinical operations and corporate development, and executive directors for CMC. David J. Woodhouse, Ph.D. was identified as CEO at the time of the 2024 Series A financing.

Business model

Clinical-stage biopharmaceutical development: the company funds and runs clinical trials of its own antibody and protein candidates, and pursues partnering for programs outside its lead focus, directing partnering inquiries to a dedicated business development contact.

Traction

NGM120 has been generally well-tolerated in over 200 participants treated in clinical trials to date. The EMERALD Phase 2 trial in hyperemesis gravidarum is underway, with the first participant dosed announced in February 2025, and a Phase 2 proof-of-concept trial in cancer cachexia is also underway.

Latest developments

In February 2025 NGM Bio announced the first participant dosed in the EMERALD Phase 2 study of NGM120 in hyperemesis gravidarum, and earlier that month announced the appointment of Wendy Yeh, M.D. as Chief Medical Officer.