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Lightspeed joins $130m oversubscribed series B in US biotech Protego

Protego Biopharma, a biotech company based in San Diego, has raised US$130 million in an oversubscribed series B round to advance its lead drug for AL amyloidosis into a pivotal clinical trial.

Novartis Venture Fund and Forbion led the round, with new investors Omega Funds, Droia Ventures, YK Bioventures, and Digitalis Ventures joining, while existing backers Vida Ventures, MPM BioImpact, Lightspeed Venture Partners, and Scripps Research also joined.

The funding will support clinical studies of PROT-001, Protego’s drug candidate targeting AL amyloidosis, a rare disease caused by protein misfolding that damages organs such as the heart.

Protego said its approach aims to address the underlying cause of the disease by stabilizing certain proteins and preventing amyloid buildup.

The company did not disclose a timeline for the upcoming pivotal trial.

🔗 Source: Protego Biopharma

🧠 Food for thought

Implications, context, and why it matters.

Previous attempts to clear amyloid deposits after formation have failed in late-stage trials

  • Protego focuses on prevention while efforts fell short, as AstraZeneca’s anselamimab missed its primary endpoint in Phase 3 and Prothena stopped birtamimab after no benefit on time to all-cause mortality versus placebo 1.
  • These misses make clearing formed deposits hard and support a plan to stabilize proteins before buildup 2.
  • Prothena’s NEOD001 posted cardiac and renal responses in Phase 1/2 with biomarker gains 3, yet it failed to extend survival in pivotal testing 1.
  • PROT-001 uses a mechanism called a “sharper knife” not a “sledgehammer” to steady immunoglobulin light chains (antibody building blocks that can misfold in this disease) and prevent amyloid buildup instead of trying to clear deposits 2.

Tech-enabled patient recruitment platforms can accelerate enrollment at specialized amyloid light-chain (AL) amyloidosis centers

  • Biotech investors and Contract Research Organization (CRO) operators can use the pivotal trial (a registrational study intended to support regulatory approval) to bring patient-finding and remote monitoring to few AL amyloidosis centers.
  • Hubs include Washington University’s Amyloid Center of Excellence, Cleveland Clinic, Mayo Clinic (over 3,200 amyloidosis patients annually 4), plus Brigham and Women’s Hospital 567.
  • Diagnosis needs Congo red staining (a dye-based test that highlights amyloid under polarized light) plus mass spectrometry (a laboratory technique that identifies proteins by their mass) 5. Recruitment tools that target centers and patient registries could shorten timelines.
  • Cardiac plus renal biomarkers anchor endpoints, for example 57% cardiac, 60% renal responses in a Phase 1/2 study 3.

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