Protagonist Gets $25 Mln Milestone Payment From Janssen

(RTTNews) - Protagonist Therapeutics (PTGX) reported earning a $25 million milestone payment from its collaboration with Janssen Biotech, Inc., following dosing of the third patient in the phase 2b FRONTIER 1 clinical trial of PN-235. PN-235 was discovered by Protagonist and further developed in collaboration with Janssen. FRONTIER 1 is a multicenter, randomized, placebo controlled, dose-ranging study to evaluate the safety and efficacy of PN-235 for the treatment of moderate-to-severe plaque psoriasis.

"The start of this phase 2b study in moderate-to-severe plaque psoriasis marks an exciting moment along the development pathway for this promising drug candidate, discovered through Protagonist's proprietary technology platform," said Dinesh Patel, President and CEO of Protagonist.