Prota Therapeutics

About Prota Therapeutics

Prota Therapeutics is a privately-held, late clinical-stage biotechnology company headquartered in Melbourne, Australia, established in 2016. The company was founded by Professor Mimi Tang to develop and commercialize oral immunotherapy treatments for food allergies. Professor Tang, an immunologist allergist with over two decades of research experience at the Murdoch Children’s Research Institute (MCRI), was motivated to find a better approach than the standard of allergen avoidance. Her work led to the creation of a patented probiotic food immunotherapy technology, for which Prota Therapeutics holds an exclusive license from the MCRI.

The company's business model is centered on the development and subsequent commercialization of its therapeutic products, targeting the global peanut allergy market, which is projected to reach US$1 billion by 2030. Prota Therapeutics' primary client base consists of patients with food allergies, specifically children. Its lead product candidates are PRT100 and PRT120, designed to treat peanut allergies. PRT100 is a combination therapy that utilizes a specific probiotic, *Lactobacillus rhamnosus*, alongside peanut oral immunotherapy (OIT) to induce remission. The underlying mechanism involves modulating the gut microbiome to promote immune tolerance. PRT120 is a standalone high-dose OIT. Clinical trials have demonstrated that these treatments are effective in inducing remission, allowing a significant percentage of patients to incorporate peanuts into their diet without adverse reactions and with a substantially improved quality of life. The goal is to offer a treatment that leads to long-term remission, freeing patients from lifelong maintenance dosing.

Prota Therapeutics' journey began with a successful initial trial in 2015, which showed promising results for curing peanut allergies. This milestone led to the company's formation in 2016. A significant Series A funding round of AUD $15 million was secured, led by OneVentures and including a $5 million investment from the Australian government's Biomedical Translation Fund. This capital facilitated the advancement of its clinical programs and manufacturing processes. In early 2024, the company raised an additional US$21 million in a Series A1 round, a mix of equity and debt, led by SPRIM Global Investments. This funding is designated to advance the PRT120 therapy towards a large-scale, pivotal Phase 3 clinical trial and to prepare for an Investigational New Drug (IND) application with regulatory agencies.