Lindsay Rosenwald, a co-founder of Opus Point Partners, has invested in many promising biotech firms including coordinating the $1 billion sale of Cougar Biotechnology to Johnson & Johnson in 2009. In 2013, Protagonist Therapeutics received $14 million in Series B funding from Johnson & Johnson Development Corporation along with $9 million in initial Series A funding from Eli Lilly's Lilly Ventures and Starfish Ventures. Protagonist will use the funding to continue developing peptide drugs to treat inflammatory bowel diseases and will benefit from guidance of Asish Xavier, VP of venture investments at Johnson & Johnson, who joined Protagonist's board.