Prota Therapeutics, an Australian developer of a new treatment for peanut allergy in children, raised $10m in Series B funding.
OneVentures, a venture capital firm focused on investment in high growth, transformative technology and life sciences companies, made the investment via OneVentures Healthcare Fund III.
Led by Dr Suzanna Lipe, CEO, Prota Therapeutics is advancing and aims to commercialize new technology for treating peanut allergy and to explore indications for treating other food allergies, with work conducted at the Murdoch Childrens Research Institute (MCRI).
The company is now in the process of progressing its innovative probiotic food oral immunotherapy technology through clinical development and commercialization.
The funds will be used to advance Prota’s clinical trial program, which includes completing recruitment of the current multicentre peanut allergy study, developing scaled up cGMP product manufacturing processes and preparation of documentation for discussions with regulatory agencies.