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Protagonist Therapeutics Raises $14 Million in Series B Venture Financing
Date:6/4/2013

MENLO PARK, Calif., June 4, 2013 /PRNewswire/ -- Protagonist Therapeutics, Inc. today announced the completion of a $14 million Series B venture financing. The financing, led by new investor Johnson & Johnson Development Corporation (JJDC), also included the participation of Series A investors Lilly Ventures and Starfish Ventures (Melbourne, Australia).  The new funding will support the discovery and development of Protagonist's pipeline of oral di-sulfide rich peptide (DRP) therapeutics that combine the best properties of small molecule drugs and large molecule biologics in a single chemical entity.

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As part of the transaction, Asish K. Xavier , Ph.D., Vice President, Venture Investments at JJDC, will join the Protagonist Board as a Director.

"This participation by JJDC as a new investor, along with the continued support from major existing investors Lilly Ventures and Starfish Ventures creates a strong syndicate and adds a new dimension in the growth of Protagonist.  The new financing will serve to support R&D efforts for the internal programs focused on well-differentiated applications of oral peptides to novel targets for diseases where neither small molecules nor biologics can currently offer a good solution," said Dinesh V. Patel , Ph.D., President and Chief Executive Officer of Protagonist Therapeutics.

"Previously, we have validated our technology platform through selective collaborations with leading companies in the field of peptide therapeutics.  We are very committed to these partnerships and will continue to enhance these synergistic relationships over the years to come," added Dr. Patel.  "This Serie
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