Protagonist raises $40m to test oral peptides in IBD
This article was originally published in Scrip
Protagonist Therapeutics raised $40m in Series C venture capital to take its first oral peptide drug candidate PTG-100 into clinical trials for the treatment of inflammatory bowel diseases (IBD).
You may also be interested in...
J&J's Janssen committed up to $990m plus royalties to collaborate with peptide drug developer Protagonist on an oral IL-23 inhibitor for Crohn's disease, which hits a similar target as two key assets in J&J's immunology portfolio: Stelara and the Phase III biologic guselkumab.
The number of US biopharma IPOs during the first 11 months of 2016 – 29 companies went public – is less than half of the 2015 total of 62, but stock performance has improved as investors focus on quality.
Silicon Valley Bank data show a pullback in crossover financings but an increase in seed and series A venture capital rounds. In recent private company financings, CRO Novotech raised $760m. In public company financings, Eleusis will merge with a SPAC and the Bausch + Lomb IPO is on file with the SEC.