It is possible but the results may be disappointing,
Runner beans send out quite deep roots which cannot be accommodated in grow bags and stunted roots mean stunted plants.
If you want to grow them other than in open ground I would suggest using the grow bag compost but put it in a large deep pot and plant the beans in there.
Put the grow bag on it's side to get the best
depth as N J said the beans need depth ..
but i have grown them in large pots , they need
oddles of water and feed ..good luck .