Protego Biopharma Raises $130 Million Oversubscribed Series B Financing to Advance First-in-Class AL Amyloidosis Program into Pivotal Study

• Financing led by Novartis Venture Fund and Forbion, with new investment from Omega Funds, Droia Ventures, YK Bioventures, and Digitalis Ventures
• Renewed backing from Vida Ventures, MPM BioImpact, Lightspeed Venture Partners, and Scripps Research

SAN DIEGO, Dec. 1, 2025 /PRNewswire/ -- Protego Biopharma, Inc., a clinical-stage biotechnology company dedicated to pioneering first-in-class small molecule therapeutics that reprogram protein folding to address systemic amyloid diseases and other protein misfolding disorders, today announced the completion of an oversubscribed $130 million Series B financing.

The round was led by Novartis Venture Fund and Forbion, with participation from new investors including Omega Funds, Droia Ventures, YK Bioventures, and Digitalis Ventures. Existing investors, including Vida Ventures, MPM BioImpact, Lightspeed Venture Partners, and Scripps Research, also participated, underscoring their continued conviction in the Protego approach. The round also reflects the active engagement of Ed Hurwitz, Executive Chairman, alongside Chris Weyrer, M.D., Ph.D., Principal at Vida Ventures and Acting Chief Business Officer of Protego, as the company advances its lead program.

Proceeds will advance Protego's lead candidate, PROT-001, into a pivotal clinical trial for AL amyloidosis, a rare and often fatal condition caused by protein misfolding that leads to organ damage, especially in the heart.

"We are deeply grateful for the steadfast support of our existing investors, who have believed in us through every stage, and we are pleased to welcome leading global investors to join us on this journey. Their confidence underscores the promise of our science and the urgency of our mission," said Brent Warner, Chief Executive Officer of Protego Biopharma. "With the capital raised, we are positioned to advance PROT-001 into pivotal trials, moving closer to delivering the first disease-modifying therapy for AL amyloidosis and offering new hope to patients who currently face devastating outcomes."

Protego's therapeutic strategy is rooted in human genetics and a unique pharmacological chaperone mechanism. These small molecules act as cellular "guides," ensuring proteins fold correctly. By stabilizing immunoglobulin light chains and preventing amyloid buildup, PROT-001 addresses disease at its root cause rather than simply managing symptoms. This approach represents a potential paradigm shift not only for AL amyloidosis, but also for a wide spectrum of protein misfolding disorders with profound unmet needs.

"Protego is advancing a highly differentiated approach with the potential to transform treatment for patients with AL amyloidosis," said Tim Lohoff, PhD, Principal at Forbion. "By targeting the root cause of this severe disease, PROT-001 has the potential to deliver the first truly disease-modifying therapy in this indication. At Forbion, we invest in bold teams turning breakthrough science into tangible medical and commercial impact, and Protego exemplifies that vision."

About Protego Biopharma
Protego Biopharma is a San Diego-based biotech company focused on developing small-molecule drugs that target protein misfolding pathways. By reprogramming cellular processes to restore proper protein function, Protego aims to treat rare and systemic diseases with precision and improved patient outcomes. For more information, visit www.protegobio.com.

SOURCE Protego Biopharma