MENLO PARK, Calif., Sept. 19, 2013 /PRNewswire/ -- Protagonist Therapeutics today announced the addition of $4 million to its previously announced Series B private financing, bringing the total raised in this round to $18 million. Pharmstandard International S.A., a holding company of the major pharmaceutical company in Russia, OJSC Pharmstandard (LSE: PHST), has joined the round as a new investor.
"Protagonist's orally stable peptides represent a game-changing approach that especially enables the development of orally administered NCEs (new chemical entities) for inflammatory bowel diseases and other gastro-intestinal disorders," said Alexander Shuster, Ph.D., President of Inbio Ventures, a management company representing Pharmstandard International. "We were impressed by the company's technology, partnerships, development achievements to date, and the management team."
"The addition of Pharmstandard to our investor base reflects the growing international interest in the field of orally active peptides, as well as recognition by investors of the significant advantages offered by our technology over other approaches," said Dinesh V. Patel, Ph.D., President and Chief Executive Officer of Protagonist Therapeutics. "This additional international investment enables us to further focus efforts on building a strong pipeline of developmental candidates for our internal pipeline and selective asset-based partnering."
About Pharmstandard International S.A./Inbio Ventures
Pharmstandard International S.A. – a holding company fully committed by OJSC Pharmstandard (LSE:PHST) – is a venture investments fund focuse
|SOURCE Protagonist Therapeutics, Inc.|
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