Protego Biopharma has closed an oversubscribed $130 million Series B financing round that will accelerate its first-in-class AL amyloidosis therapeutic program into a pivotal clinical study. The round was led by Novartis Venture Fund and Forbion, with additional participation from new investors Omega Funds, Droia Ventures, YK Bioventures, and Digitalis Ventures. Existing backers Vida Ventures, MPM BioImpact, Lightspeed Venture Partners, and Scripps Research also returned to participate in the round.
The financing supports Protego Biopharma’s efforts to advance PROT-001, its lead small molecule candidate, into a pivotal trial for AL amyloidosis. The disease is a severe and often fatal disorder caused by misfolded proteins that accumulate in organs, most critically the heart. Protego’s platform is designed to correct protein misfolding at its source by using pharmacological chaperones that guide proteins into their proper shape, stabilizing immunoglobulin light chains and preventing amyloid formation.
The company highlighted that this approach could shift the treatment paradigm for AL amyloidosis by addressing the disease’s underlying cause rather than focusing on symptom management. It may also have implications for a broader range of protein misfolding disorders that currently lack effective treatments. The continued participation of returning investors, along with new global healthcare investors, reflects growing confidence in the company’s strategy, leadership, and scientific foundation.
The round also reinforces the involvement of Ed Hurwitz, Executive Chairman, and Chris Weyrer, M.D., Ph.D., Principal at Vida Ventures and Acting Chief Business Officer of Protego, who remain active contributors as the company prepares for its next phase of clinical advancement.
Protego Biopharma, headquartered in San Diego, develops small-molecule therapeutics to restore healthy protein function and improve outcomes for patients with rare and systemic disorders driven by protein misfolding. Additional information is available at protegobio.com.
KEY QUOTES:
“We are deeply grateful for the steadfast support of our existing investors, who have believed in us through every stage, and we are pleased to welcome leading global investors to join us on this journey. Their confidence underscores the promise of our science and the urgency of our mission. With the capital raised, we are positioned to advance PROT-001 into pivotal trials, moving closer to delivering the first disease-modifying therapy for AL amyloidosis and offering new hope to patients who currently face devastating outcomes.”
Brent Warner, Chief Executive Officer of Protego Biopharma
“Protego is advancing a highly differentiated approach with the potential to transform treatment for patients with AL amyloidosis. By targeting the root cause of this severe disease, PROT-001 has the potential to deliver the first truly disease-modifying therapy in this indication. At Forbion, we invest in bold teams turning breakthrough science into tangible medical and commercial impact, and Protego exemplifies that vision.”
Tim Lohoff, PhD, Principal at Forbion
