Protagonist Therapeutics Secures $40,000,000 Series C Funding Round

  • Feed Type
  • Date
    7/20/2015
  • Company Name
    Protagonist Therapeutics
  • Mailing Address
    521 Cottonwood Drive Milpitas, CA 95035 USA
  • Company Description
    Protagonist Therapeutics is a U.S.-incorporated biotechnology company pursuing the discovery and development of disulfide-rich peptides (DRPs) as well differentiated alternatives to biologics, and also as new chemical entities (NCEs) against those targets and life threatening diseases for which ideal small molecule and/or biologic options are unavailable.
  • Website
    http://www.protagonist-inc.com
  • Transaction Type
    Venture Equity
  • Transaction Amount
    $40,000,000
  • Transaction Round
    Series C
  • Proceeds Purposes
    Proceeds from the financing will be used to advance Protagonist’s development candidate, PTG-100, into human clinical testing as a potential ‘oral targeted therapy’ for inflammatory bowel diseases (IBD), as well as to further the development of additional oral peptide drug candidates in the company’s product pipeline. PTG-100 is an orally stable peptide therapeutic that works by specifically blocking alpha-4-beta-7 integrin, a clinically validated target for IBD. Protagonist plans to initiate Phase 1 human clinical testing of PTG-100 by the end of 2015, and progress to Phase 1/2 clinical studies in IBD patients during 2016.
  • M&A Terms
  • Venture Investor
    Canaan Partners
  • Venture Investor
    Adage Capital Management
  • Venture Investor
    RA Capital
  • Venture Investor
    Foresite Capital
  • Venture Investor
    Johnson & Johnson Development Corporation
  • Venture Investor
    Lilly Ventures
  • Venture Investor
    Pharmstandard
  • Venture Investor
    Starfish Ventures

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