Prota Therapeutics secured $21 million in funding to advance its peanut allergy treatment, PRT120, toward Phase 3 clinical trials, backed by SPRIM Global Investments.

Target Information

Prota Therapeutics Pty Ltd is an innovative biotechnology firm based in Australia, focused on creating advanced oral immunotherapy treatments that aim to induce remission from food allergies, particularly peanut allergy. Founded in 2016, Prota has emerged as a leader in developing methodologies to provide sustainable solutions for patients suffering from severe allergic reactions. The company is well-known for its proprietary technology, based on over 15 years of research conducted by Professor Mimi Tang at the Murdoch Children’s Research Institute.

Recently, Prota announced a significant funding round of $21 million, which includes equity and debt financing, primarily intended to prepare for a Phase 3 clinical trial for its PRT120 oral therapy targeting peanut allergy. The financing round was spearheaded by Singapore-based SPRIM Global Investments, indicating a strong belief in Prota's technology and its potential to impact patient lives positively.

Industry Overview

The peanut allergy therapeutics market has gained notable attention over recent years, with projections indicating it could reach $1 billion by 2030 at a compound annual growth rate of 10%. This surge is partly attributed to the rising prevalence of peanut allergies worldwide, particularly amo