Recent Funding:
Protego Biopharma (SD) Raises $130M to Advance Protein-Folding Therapy for Rare Disease
Protego Biopharma secured a $130M Series B led by Novartis Venture Fund and Forbion to advance its small-molecule drug for amyloid light chain (AL) amyloidosis, a deadly protein misfolding disorder affecting the heart and organs. The biotech’s lead candidate, PROT-001, aims to fix protein misfolding at its source—rather than just treating symptoms—with plans to enter a pivotal Phase 2/3 trial in 2026 following early safety studies in Australia.
Cormorant Asset Management Targets $400M Fund to Back Biotech Rebound
Cormorant Asset Management is raising a new $400M fund, with $75M already secured, to continue investing in innovative biotech companies as the market shows signs of recovery. The firm has recently backed several California biotechs, including Aspen Neuroscience (Parkinson’s cell therapy), Electra Therapeutics (immunology/cancer), and Star Therapeutics (bleeding disorders).
Other Interesting News:
Belite Bio (SD) Hits Phase 3 Success in Rare Eye Disease Trial
Belite Bio’s oral drug tinlarebant reduced lesion growth by 35.7% in adolescents with Stargardt disease, meeting its Phase 3 primary endpoint with mild side effects. The company plans to seek FDA approval next year, potentially becoming the first to bring a treatment for Stargardt to market in the U.S. while advancing tinlarebant into Phase 3 for geographic atrophy.
