Monday, August 6, 2018

Protagonist Therapeutics Gets $22M In PIPE

Newark-based Protagonist Therapeutics, a publicly held biopharmaceuticals firm focused on development of novel peptide-based rugs, said today that it has raised $22M in an equity funding round. The funding came from BVF Partners L.P. and affiliates. The company, which trades on the Nasdaq at PTGX, said it sold sale of 2,750,000 shares of common stock for gross proceeds of $22 million, in a deal which also included five year warrants. The company's lead compound is aimed at treating Crohn's disease.