News and Press
Protomer Technologies Inc. Receives an Investment From JDRF T1D Fund Following a Lead Equity Investment by Lilly
PASADENA, Calif.–(BUSINESS WIRE)–Protomer Technologies Inc. (“Protomer”), the biopharmaceutical company today announces the completion of an investment by the JDRF T1D Fund following an initial equity investment in Protomer led by Eli Lilly and Company.
Protomer is engineering next-generation protein therapeutics that can sense molecular activators in the body. The company’s proprietary Molecular Engineering of Protein Sensors (MEPS) platform enables the development of therapeutic peptides and proteins with tunable activity that can be controlled using small molecules. Protomer has used this approach toward developing a portfolio of therapeutic candidates, including a glucose responsive insulin that can sense sugar levels in the blood and automatically activate as needed throughout the day. Protomer’s chemical biology-based MEPS platform enables rapid turn-on and turn-off capability for automatic activity control of peptides and proteins. This technology will enable development of targeted therapies with dual homing to reduce off-target effects.
Alborz Mahdavi, Chief Executive Officer at Protomer, said: “The investment, initially led by Lilly and now supported by JDRF T1D Fund, further validates Protomer’s platform technology and helps advance our science to better serve the needs of patients. This round of financing positions us to advance our insulin program and the MEPS platform with support from Lilly and JDRF T1D Fund. Protomer has been supported by JDRF since our company’s inception and working with one of the leading organizations in type 1 diabetes research has been very valuable for us.”
Ruth Gimeno, Vice President, Diabetes Research and Clinical Investigation of Lilly said: “We are excited to support the Protomer team as they further advance the MEPS platform and their glucose responsive insulin program. Protomer’s MEPS platform has the promise to enable engineering of next generation protein therapeutics that can be controlled using small molecules. Protomer’s smart insulin program is an excellent first application of this technology.”
Katie Ellias, Managing Director of JDRF T1D Fund said: “Protomer’s novel mechanism for glucose-responsive insulin is extremely promising and has the potential to be a game-changer for people with type 1 diabetes. We are thrilled to work with Lilly to support the Protomer team.”
About Protomer and MEPS technology
Protomer is engineering next-generation protein therapeutics that can sense molecular activators in the body to automatically activate as needed. Using a proprietary peptide- and protein-engineering platform, Protomer is able to develop therapeutic proteins that can sense small molecule activators to achieve variable dosing and targeted delivery. Protomer’s chemical biology-based MEPS platform enables rapid turn-on and turn-off capability for automatic activity control of peptides and proteins, and enables the development of targeted therapies with dual homing to reduce off-target effects. www.protomer.com
About JDRF T1D Fund
The JDRF T1D Fund (https://t1dfund.org/) is a venture philanthropy fund accelerating life-changing solutions to cure, prevent and treat type 1 diabetes (T1D) through catalytic equity investments. Through its investments in partnership with private capital, including venture capital, corporations and foundations, the T1D Fund seeks to attract the private investment necessary to advance therapeutics, devices, diagnostics and vaccines into the hands of those living with T1D. The T1D Fund invests in areas strategically aligned with JDRF, the leading global organization funding T1D research, with an exclusive focus on supporting the best commercial opportunities. The T1D Fund reinvests any realized gains into new investments to further its mission.
Dr. Alborz Mahdavi, President and CEO Protomer Technologies