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Protagonist Therapeutics Earns $7.5 Million Milestone Payment from IL-23 Receptor Collaboration with Janssen
NEWARK, Calif., Oct. 26, 2021 /PRNewswire/ -- Protagonist Therapeutics, Inc. (Nasdaq: PTGX) ("Protagonist" or "the Company") today announced that it will
About this update from Protagonist Therapeutics, Inc.
[{"type":"text","content":"NEWARK, Calif., Oct. 26, 2021 /PRNewswire/ -- Protagonist Therapeutics, Inc. (Nasdaq: PTGX) (\"Protagonist\" or \"the Company\") today announced that it will receive a $7.5 million milestone payment from Janssen Biotech, Inc. (Janssen) triggered by the completion of the clinical data collection-related Phase 1 activities for PN-235 (JNJ-2113). This investigational drug candidate is one of the three IL-23 receptor antagonists that are part of Protagonist's collaboration agreement with Janssen, which provides for concurrent development of multiple oral IL-23 receptor antagonists against a broad range of indications. \n\"The completion of these Phase 1 activities reflects our continued strength of execution as our collaboration of four-plus years, encompassing three assets in parallel development for multiple indications, continues to make steady progress,\" said Dinesh Patel, PhD, President and Chief Executive Officer at Protagonist. \"This latest milestone marks $87.5 million in total milestones we have earned to date through this strategic partnership with Janssen. Our teams are guided by a shared commitment to improving and expanding therapeutic options for the many patients who may one day benefit from the oral therapies we are advancing in development today.\"\nThis collaboration provides for the concurrent development of multiple oral IL-23 receptor antagonists against a broad range of both IBD (inflammatory bowel disease) and non-IBD indications that can be treated through blockade of the IL-23 pathway. The compounds currently in development are PTG-200, an oral IL-23 receptor antagonist in Phase 2 development for the treatment of Crohn's disease (CD), and PN-232 and PN-235, two second-generation oral IL-23 receptor antagonist candidates. PN-232 and PN-235 are currently in Phase 1 clinical development. Future milestones for Phase 2 and Phase 3 successes are contemplated in the collaboration agreement, as are royalties for Protagonist on products from this portfolio that achieve market approval and entry.\nJanssen Biotech, Inc., part of the Janssen Pharmaceutical Companies of Johnson & Johnson, has exclusive, worldwide rights to develop and commercialize PTG-200, PN-232, PN-235 and any other second-generation compounds derived from this research collaboration. Protagonist will have the right to co-detail up to two licensed p...