NEWARK, Calif., Aug. 10, 2021 /PRNewswire/ -- Protagonist
Therapeutics, Inc. (Nasdaq: PTGX) ("Protagonist" or "the Company")
today announced it has resolved its Collaboration Agreement dispute
with Zealand Pharma by reducing future development and sales
milestone payments and royalties owed to Zealand for Protagonist's
product candidate rusfertide under the companies' 2012
Collaboration Agreement.
Under the terms of an agreement that ends arbitration
proceedings Protagonist initiated in 2020, future development and
sales milestone payments (other than $2.5
million in near-term milestones) and royalties for
rusfertide have been reduced by 50%. Milestones and royalty
payments will be due for sales and milestones achieved by either
Protagonist or any future rusfertide licensee or partner.
Protagonist will also make a $1.5
million payment to Zealand in August
2022.
Additional details are available on Protagonist's Form 8-K filed
with the SEC on August 10, 2021.
About Protagonist Therapeutics
Protagonist Therapeutics is a biopharmaceutical company
with multiple peptide-based investigational new chemical entities
in different stages of development, all derived from the Company's
proprietary technology platform.
Protagonist's pipeline includes rusfertide (PTG-300), an
investigational, injectable hepcidin mimetic currently in a Phase 2
proof-of-concept clinical trial for polycythemia vera (PV), a Phase
2 study in PV subjects with high hematocrit levels, and a Phase 2
study for hereditary hemochromatosis. Based on the feedback
provided by the FDA and EU regulatory authorities, the Company
plans to initiate a single, global Phase 3 randomized,
placebo-controlled trial evaluating the efficacy and safety of a
once weekly, subcutaneously self-administered dose of
rusfertide.
The Company is also evaluating an orally delivered,
gut-restricted alpha-4-beta-7 integrin specific antagonist peptide
(PN-943) currently in a Phase 2 study in adults with moderate to
severe active ulcerative colitis (UC). The Company is targeting
ulcerative colitis as the initial indication.
The Company has a worldwide license and collaboration agreement
with Janssen Biotech, Inc., for the development of oral peptide
IL-23 receptor antagonists. Compounds included in this agreement
are PTG-200, PN-235 and PN-232. PTG-200 is an orally delivered,
gut-restricted, interleukin-23 receptor specific antagonist peptide
in a Phase 2 clinical trial for Crohn's disease. PN-235 and PN-232,
both second-generation oral interleukin-23 receptor antagonist
candidates, are currently in Phase 1 studies.
Protagonist is headquartered in Newark, California.
For further information, please
visit www.protagonist-inc.com.
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SOURCE Protagonist Therapeutics, Inc.