Friday, July 17, 2015

Protagonist Therapeutics Gains $40M

Milpitas-based Protagonist Therapeutics, which is developing biotherapeutics aimed at treating inflammatory bowel disease, has raised $40M in a Series C funding. The funding was led by Canaan Partners, and also included Adage Capital Management, RA Capital Management and Foresite Capital, along with Johnson & Johnson Innovation - JJDC, Lilly Ventures, Pharmstandard International, and Starfish Ventures. Protagonist Therapeutics is developing orally stable peptide therapeutics, initially aimed at treating inflammatory bowel disease; the company's compounds are an alternative to current therapy, which requires an injection regime. More information »