Almost 2 years have passed since I first highlighted another Aussie (now US-based) peptide company, Protagonist. And, looking back at the previous post in this thread, almost 2 years have passed since ds was trying to wean himself off HC, ….
Protagonist, like Phylogica, discovers and develops peptides but its focus has been on developing oral peptide drugs for GI disorders.
Now Janssen (J & J), which had already invested in the company, has picked up Protagonist’s second-in-pipeline asset, PTG-200, a pre-clinical drug for Crohn’s disease. PTG-200 works by blocking the IL-23 pathway.
The global license and collaboration deal provides $50 million upfront and potentially up to $940 million in milestone payments and double-digit royalties on net sales. Under the terms of the deal, Protagonist will be responsible for running and funding the Phase 1 trial which is due to commence later this year while Janssen will take over and pay 80% of the costs once PTG-200 advances to Phase 2. If the drug moves into Phase 2b, Protagonist will receive another $125 million with a further $200 million if Janssen decides to proceed with the drug once it sees data from that trial.
Yes, that’s a AU $1.3 billion deal for just one pre-clinical peptide drug….
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