Protagonist Therapeutics, Inc., a U.S.-based biotechnology company, completed a $14m Series B venture financing.
The round was led by new investor Johnson & Johnson Development Corporation (JJDC), with participation from Lilly Ventures and Starfish Ventures (Melbourne, Australia). As part of the transaction, Asish K. Xavier , Ph.D., Vice President, Venture Investments at JJDC, will join the Protagonist Board as a Director.
The company intends to use the new funds for the discovery and development of its pipeline of oral di-sulfide rich peptide (DRP) therapeutics.
Led by Dinesh V. Patel , Ph.D., President and Chief Executive Officer, Protagonist Therapeutics focuses on the development of disulfide-rich peptides (DRPs) as 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.
The company is a spin-out of University of Queensland’s Institute of Molecular Biosciences (IMB) and has discovery operations in Menlo Park, California USA and Brisbane, Queensland, Australia.