siliconindia | | DECEMBER, 202219Biotech is a marathon, not a sprint. So, we have to hold steady and keep goingof reach for a rare disease drug like rusfertide, although the company will evaluate all available options at any given time and act in the best interest of its stakeholders. A Transformative Approach for Psoriasis and Inflammatory Bowel Diseases (Crohn's disease and Ulcerative Colitis) in partnership with Janssen PharmaceuticalsUnlike rusfertide for a rare disease like PV, PN-235 is an oral interleukin-23 receptor (IL-23r) antagonist that lends itself to blockbuster market category of common immunomodulatory diseases such as psoriasis and inflammatory bowel disease. Protagonist made a conscious decision early on to collaborate with a big pharma for a project of this magnitude, fully acknowledging that pharma has unmatched resources and experience in such areas in comparison to a biotech. The company joined hands with Janssen pharmaceuticals back in 2017, and the net result is PN-235 currently being pursued in multiple clinical studies by Janssen. Of course, Protagonist has gained a lot in the process from Janssen--$112.5 M in various payments, to be precise--but, more importantly, the comfort of realizing that this drug candidate is getting the best chance to succeed in the hands of Janssen. And with potential success of PN-235, protagonist is eyeing $800 million-plus in future payments and mid-single to 10% royalties on net sales. PN-235 is an oral peptide-based drug working on the same biological pathway that is being intervened by Janssens blockbuster injectable antibody drugs like Stelara and Tremfya. If successful, PN-235 could be providing the much-desired transition from injectables to orals to millions of patients globally suffering from these chronic diseases. "How about that for an ambitious and transformative agenda for a biotech like Protagonist" says, Dr. Patel. It is not a bed of roses: The PN-943 StoryWhile being very hopeful about both Rusfertide and PN-235, Dr. Patel asserts that not every drug discovery effort will yield the same result, referring to PN-943--another drug candidate developed in-house at Protagonist--that did not bring a roaring success. While the Phase 2b data in a 240-patient study in ulcerative colitis was determined to be positive if not outstanding by the company, and overwhelmingly recommended by key opinion leaders (KOLs) for further development, the Company has decided to peruse further development only if it can find a suitable partner for this asset. "You are going to come across such `winning the battle but losing the war' kind of scenarios numerous times in the business of science. You just have to accept the reality and keep making tough but right decisions.' This also highlights the criticality of having multiple assets and multiple shots on goal. If PN-943 was the only asset that the company had, it would have been in a miserable situation. Thanks to the versatile technology platform and the seasonded team, Protagonist intends to always have a choice of multiple assets at any given time.The Protagonist Team: Unwavering Determination and ResilienceThe entire process of drug discovery to launching a new medicine in the market is a long, complex, expensive, and uncertain path filled with high failures and severe setbacks. Besides an innovative and proprietary technology platform, it also needs brilliant minds, along with unwavering dedication and passion for the cause. Protagonist's team has that in its DNA and has proven that over and over again by navigating around numerous unforeseen hurdles over the past fourteen years. Its constant and steady growth can be attributed to its capability to to self-evaluate and morph itself according to changing needs. "As the Company grows and transitions, so does the team. It's a very delicate balance of not just growing, but strengthening and transforming the team and making sure it can do justice to not just the Protagonist of today, but also to the Protagonist of tomorrow," says Dr. Patel. A firm believer in growth from within, Protagonist relies on the continuum of self-evaluation and collective evaluation to understand the areas of improvement and achievements in the larger scheme of drug development. "As the Company grows and transforms, so can employees, and they should get every opportunity to keep scaling up along with the Company. Ultimately, you strike a balance between promoting from within and hiring from outside, while genuinely attending to the growing needs of your Company in an uncompromising way."Today, Protagonist is a publicly traded U.S.-based company with a market cap of about half a billion dollars. The opportunities it has cultivated in its pipeline can translate to billions of dollars in revenue in the future.The Company strongly believes in the importance of life sciences education. At the management level and throughout the company, Protagonist's team members are active sponsors, mentors, and hosts for students seeking to broaden their understanding of life sciences in the interest of advancing human health.
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