Follow the Money to Bio/Pharmaceutical Opportunities
Spotlight on Protagonist Therapeutics, Inc.

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Follow the Money to Bio/Pharmaceutical Opportunities highlights a newly funded bio/pharmaceutical company. This includes important insights into the featured company’s product pipeline, manufacturing and business relationships, and likely sourcing opportunities.

Protagonist Therapeutics is a US public company that discovers and develops disulfide-rich peptides, alternatives to antibodies and new chemical entities to treat life-threatening diseases. It plans to raise $60 million in a secondary public offering, as reported in the PharmSource Lead Sheet on October 19, 2017.

Corporate Highlights

  • Protagonist Therapeutics was incorporated in Delaware in 2006.
  • Corporate Headquarters: Newark, CA
  • As of March 07, 2017, they had 35 employees
  • Stock Exchange: NASDAQ
  • Stock Symbol: PTGX

Sourcing Opportunities

  • Protagonist Therapeutics plans to use the proceeds to fund the clinical development of PTG-100, PTG-200 and PTG-300:
    • PTG-200 To initiate a Phase I study:
      • For treatment of Crohn’s disease
      • Dosage Form: Oral
      • Nature of API: Peptide – Chemical
      • Therapeutic Areas: Anti-inflammatory; Gastrointestinal
    • PTG-300 To complete a Phase I study:
      • For treatment of iron overload disorders
      • Dosage Form: Parenteral
      • Nature of API: Peptide – Chemical; Hormone
      • Therapeutic Areas: Hematology
    • PTG-100 To complete a Phase IIb study:
      • For treatment of ulcerative colitis
      • Dosage Form: Oral
      • Nature of API: Peptide – Chemical
      • Therapeutic Areas: Anti-inflammatory; Gastrointestinal
  • The company contracts with contract research organizations (CROs) to conduct clinical trials.
  • Protagonist Therapeutics does not own or operate manufacturing facilities and relies on third party contract manufacturers for all required raw materials, API and finished product for preclinical studies and clinical trials.
  • Protagonist Therapeutics has no sales, marketing or distribution capabilities or experience.

Business Relationships

  • In June 2017, Protagonist Therapeutics and Johnson & Johnson entered into an alliance for the development of Protagonist’s PTG-200 for indications including inflammatory bowel disease. The first-in-class, oral peptide IL-23 receptor antagonist is expected to enter clinical trials in H2 of 2017. Under the agreement, Johnson & Johnson paid $50 million in an upfront payment and $940 million in potential milestones to gain exclusive worldwide licensing rights.

Pipeline

Product Candidate Indication Dosage Form Status Next Anticipated Step
PTG-200 Crohn’s disease Oral Preclinical Initiate a Phase I trial in 2017
PTG-300 Iron load disorders Parenteral Phase I Complete Phase I trial in 2017
PTG-100 Ulcerative colitis Oral Phase II Complete a Phase IIb trial in 2018

Pipeline

Finance

Product Candidate Indication Dosage Form Status Next Anticipated Step
PTG-200 Crohn’s disease Oral Preclinical Initiate a Phase I trial in 2017

Contact Information

(In $ thousands) 2016 2015
Revenue
R&D Expenditures 25,705 11,831
General & Administrative Expenditures 6,961 2,963
Total Operating Expenses 32,666 14,794
Protagonist Therapeutics, Inc. Key Officers
7707 Gateway Blvd, Suite 140 Dinesh V. Patel, PhD, President & CEO
Newark, CA, 94560 USA Mark Smythe, PhD, VP, Technology
Phone: +1-510-474-0170 Richard S. Shames, MD, CMO
Web: http://www.protagonist-inc.com/ Patricia Murphy, SVP, Regulatory Affairs & QA

 

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Scotty is a Research Analyst at PharmSource. He holds a BS degree in Biology from George Mason University and an MPH degree from Eastern Virginia Medical School. He’s experienced in data collection, analysis and management, and has done laboratory analysis and safety program development.

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