Protego Biopharma Raises $51 Million in Series A Round to Advance Treatments for Protein Misfolding Diseases

Protego Biopharma Raises $51 Million in Series A Round to Advance Treatments for Protein Misfolding Diseases

San Diego-based Protego Biopharma announced it has raised $51 million in a Series A financing co-led by Lightspeed Venture Partners and Vida Ventures, along with seed investor MPM Capital. Proceeds from the financing will be used to advance small molecule drug candidates aimed at protein misfolding diseases.

Protego was co-founded in 2017 by Jeffery W. Kelly, PhD, Professor at the Scripps Research Institute, Xin Jiang, PhD, and Richard Labaudinière, PhD, each of whom have expertise and experience in the field of protein misfolding disease. Dr. Kelly’s research provided the foundation for FoldRx Pharmaceuticals, a company led by Dr. Labaudinière that focused on first-in-class disease modifying, small molecule therapeutics to treat diseases of protein misfolding and aggregation. Prior to being acquired by Pfizer in 2010, FoldRx developed the drug, Vyndaqel (tafamidis), a disease-modifying therapy for the treatment of transthyretin-related hereditary amyloidosis, a condition that results from protein aggregation in peripheral nerves and the heart.

“Protego is building on compelling science to develop small molecule therapeutics targeting protein misfolding, which is increasingl...

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