Protagonist raises $22M to revive PTG-100; Paratek’s antibiotic shows non-inferiority

→ Protagonist Therapeutics {PTGX}, a tiny public company in Newark, CA, has inked a securities purchase deal totaling $22 million in shares to sort out plans for its former lead program in inflammatory bowel diseases. The new funds will go towards PTG-100, an oral alpha-4-beta-7 integrin antagonist peptide, which was previously in a Phase IIb trial for ulcerative colitis before it was discontinued. Now, the company says its under evaluation for other IBD indications. The biotech is selling 2.75 million shares to investors including BVF Partners and their affiliate. The investors also got five-year warrants to buy up 1.375 million shares at $15 per share.

→ FDA staffers say Paratek’s $PRTK new antibiotic, called omadacycline, has proven not inferior to current treatments for bacterial skin infections and pneumonia. That news comes a couple days before an advisory committee will evaluate the drug’s safety and efficacy. Read the briefing here.

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Research Scientist - Immunology
Recursion Pharmaceuticals Salt Lake City, UT
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Atlas Venture Cambridge, MA

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