Johnson & Johnson Announces Investment in Protagonist Therapeutics

367 views

Published on

Published in: Health & Medicine
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
367
On SlideShare
0
From Embeds
0
Number of Embeds
1
Actions
Shares
0
Downloads
3
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Johnson & Johnson Announces Investment in Protagonist Therapeutics

  1. 1.  A co-founder of Opus Point Partners, Lindsay Rosenwald has invested in an array of promising biotech firms. In 2009, Lindsay Rosenwald coordinated the sale of Cougar Biotechnology, Inc., to Johnson & Johnson for close to $1 billion.
  2. 2.  In June 2013, Protagonist Therapeutics, Inc., a biotechnology start-up with offices in California and Australia, procured $14 million in Series B venture funding from Johnson & Johnson Development Corporation. The company received an initial $9 million in Series A investments from Eli Lilly’s Lilly Ventures and Starfish Ventures. With the support of this funding, Protagonist will continue its work on a series of promising peptide drugs. The company will also benefit from the guidance of Asish Xavier; the vice president of venture investments for Johnson & Johnson. He will now serve on Protagonist's board of directors.
  3. 3.  Over the last several years, Protagonist has focused its research on amino acid-based compounds, making strides toward developing a drug to treat inflammatory bowel diseases. In 2011, the company partnered with Ironwood Pharmaceuticals, Inc., and in 2012, it added Zealand Pharma A/S to the alliance. Protagonist hopes to begin human trials of the peptide drug in 2015.

×