#USA #San Diego #AL Amyloidosis #Protego Biopharma #PROT-001

Protego Biopharma Secures $130 Million in Series B Financing

In an impressive move for medical science, Protego Biopharma, Inc. has successfully completed an oversubscribed Series B financing round, raising $130 million. This funding is crucial for the development of its first-in-class treatment for AL amyloidosis, a severe condition that wreaks havoc on the body's organs due to protein misfolding.

Leading Investments and Support

The financing was spearheaded by the Novartis Venture Fund and Forbion, with participation from new investors such as Omega Funds, Droia Ventures, YK Bioventures, and Digitalis Ventures. Existing supporters like Vida Ventures, MPM BioImpact, Lightspeed Venture Partners, and Scripps Research have reaffirmed their commitment to Protego's mission, highlighting their unwavering belief in the company's innovative approach in tackling systemic amyloid diseases.

Brent Warner, the CEO of Protego Biopharma, expressed gratitude for the strong backing from both new and existing investors. He acknowledged that their confidence not only validates the scientific premise of Protego’s work but also emphasizes the urgent need for effective treatments for AL amyloidosis. "With the capital raised, we are positioned to advance PROT-001 into pivotal trials, moving closer to delivering the first disease-modifying therapy for AL amyloidosis and offering new hope to patients who currently face devastating outcomes," Warner stated.

Focus on AL Amyloidosis

AL amyloidosis is characterized by abnormal protein deposits that can severely damage vital organs, particularly the heart. The urgency to find a solution is underscored by the often deadly nature of this condition. Protego's therapeutic candidate, PROT-001, is rooted in a pioneering strategy that harnesses the body’s own biological processes to combat these misfolded proteins.

Innovative Therapeutic Mechanism

The essence of Protego's approach lies in the use of small molecules designed to act as pharmacological chaperones. These molecules play a crucial role in guiding proteins to fold correctly, thereby stabilizing immunoglobulin light chains and preventing amyloid from accumulating in the body. Rather than merely treating symptoms, PROT-001 aims to address the root cause of the disorder, presenting a potential paradigm shift in how systemic amyloid diseases are treated.

Tim Lohoff, PhD, a Principal at Forbion, praised Protego's progress, stating, "By targeting the root cause of this severe disease, PROT-001 has the potential to deliver the first truly disease-modifying therapy in this indication. At Forbion, we invest in bold teams turning breakthrough science into tangible medical and commercial impact, and Protego exemplifies that vision."

Looking Ahead

With this substantial funding, Protego Biopharma is now better positioned to advance PROT-001 towards pivotal clinical trials. This step is essential not only for the company but also for patients grappling with the harsh realities of AL amyloidosis. As Protego continues to refine its innovative approaches to treating protein misfolding disorders, the biotechnology community watches closely, hopeful for breakthroughs that could define the future of treatment in this dire field.

About Protego Biopharma

Founded and based in San Diego, California, Protego Biopharma is a biotechnology company dedicated to creating small-molecule drugs aimed at correcting protein misfolding pathways. Their mission is centered around restoring proper protein function to treat rare, systemic diseases with a focus on patient outcomes. For further details, interested parties can visit www.protegobio.com.