Protego Biopharma Secures $130 Million Series B to Advance First-in-Class Therapies for Protein Misfolding Diseases

Protego Biopharma, a clinical‑stage biotechnology company focused on developing first‑in‑class small‑molecule therapies to address systemic amyloid diseases and other protein misfolding disorders, has significantly expanded its financial backing with an oversubscribed $130 million Series B financing round. The funding will be used to advance the company’s lead drug candidate, PROT‑001, into a pivotal clinical trial for AL amyloidosis, a rare and often fatal condition caused by abnormal protein folding that leads to organ damage — especially in the heart.

The Series B round was co‑led by Novartis Venture Fund and Forbion, signaling strong investor confidence in Protego’s differentiated scientific approach. New participants in the financing included Omega Funds, Droia Ventures, YK Bioventures, and Digitalis Ventures, each bringing capital and strategic insight to support the company’s growth trajectory. Existing backers also renewed their commitment by participating in the round, including Vida Ventures, MPM BioImpact, Lightspeed Venture Partners, and Scripps Research.

Protego Biopharma’s research strategy centers on small molecules that act as pharmacological chaperones — compounds designed to ensure proteins fold correctly within cells. Misfolded proteins are implicated in a range of serious diseases, and Protego’s approach aims to address the underlying biological mechanisms rather than simply treating symptoms. PROT‑001, the company’s most advanced therapeutic candidate, stabilizes immunoglobulin light chains to prevent the formation of amyloid plaques responsible for AL amyloidosis. This disease currently lacks highly effective, disease‑modifying treatments, making the need for innovative therapies especially acute.

The substantial capital raised in the Series B financing will allow Protego to progress PROT‑001 into pivotal clinical trials, an essential step toward securing regulatory approval and bringing the therapy to patients. The funding will also support expanded clinical development activities and help accelerate collaborations with research partners and industry stakeholders as the company moves closer to commercialization. Protego’s leadership has framed this investment as a transformative moment that brings the company nearer to delivering a potential first‑in‑class treatment for a condition with limited available options.

Protego’s funding history shows a pattern of strong investor support throughout its growth. Before the Series B, the company raised $51 million in a Series A round, co‑led by Lightspeed Venture Partners, Vida Ventures, and MPM Capital, which helped finance early therapeutic development and expand its discovery platforms. That financing laid the groundwork for advancing novel small molecules targeting protein misfolding across a range of potential indications.

Founded in 2017 by scientists including Dr. Jeffery W. Kelly, a leader in the field of protein folding and aggregation, Protego has built its research platform on years of foundational work in the biology of protein misfolding. The company’s leadership believes that pharmacological chaperones and related mechanisms could have applications not only in AL amyloidosis but also in other conditions driven by protein misfolding, including certain neurodegenerative and systemic disorders.

Investors in the Series B round represent a mix of strategic corporate venture capital arms and specialized life sciences investors with deep experience in advancing biotech companies from early clinical stages to commercialization. Novartis Venture Fund’s involvement underscores major pharmaceutical interest in novel therapeutic modalities, while Forbion’s participation aligns with its focus on transformative biotech innovations. The inclusion of funds such as Omega Funds, Droia Ventures, YK Bioventures, and Digitalis Ventures highlights broader diversification in investor appetite for cutting‑edge rare disease therapeutics.

Protego’s platform stands out for its promise to tackle diseases at their molecular roots by stabilizing proteins before they misfold and aggregate, a mechanism that differs from traditional approaches that focus primarily on symptom management or downstream effects. The company’s strategy could represent a paradigm shift in how certain protein misfolding conditions are treated if clinical results support the safety and efficacy of PROT‑001.

With the Series B funding in place, Protego Biopharma is poised to advance its clinical programs and continue deepening its scientific and commercial footprint in the rare disease therapeutic landscape. The new capital not only accelerates development timelines for its lead program but also strengthens the company’s ability to pursue additional research areas where its pharmacological chaperone technologies may have impact.

Protego’s expanded financial backing reflects robust investor confidence in both the company’s scientific vision and its potential to deliver meaningful clinical innovations for patients facing debilitating and life‑threatening conditions.