ProtAb is a company dedicated to eveloping an antibody for the treatment of Rheumatoid Arthritis and other autoimmune diseases such as Crohn’s Disease, and has recently raised $4 million.

Name: ProtAb

CEO: Shira Yair

Sector: Biopharma

Medical Field: Autoimmune Diseases

Est.: 2005

Stage: Late stage pre-clinical, after series A funding

Vision: To develop a novel therapeutics for autoimmune diseases, based on the induction of natural anti-inflammatory mechanisms existing in the body.

ProtAb’s Website

Some people like to do extreme sports: snowboarding, rock climbing or paragliding. Others think those kind of sports aren’t dangerous enough. The latter are the ones that go to the startup business. After all, let’s face it: only a small percentage of the startup companies will ever make the big exit. The rest will dissolve into disappointed entrepreneurs and heartbroken investors.  This is why it is such a pleasure to report on a Israeli startup that actually starts to look like it’s walking the lane towards success. ProtAb’s the name, and autoimmune diseases are its game.

ProtAb, a portfolio company wholly owned by Hadasit Bio-Holdings Ltd, dedicated to developing an antibody for the treatment of Rheumatoid Arthritis and other autoimmune diseases such as Crohn’s Disease, has recently raised $3 million from two of the leading biotechnology investment groups in Israel – Pontifax Fund LP and Clal Biotechnology Industries Ltd, whom will invest $1.5 million each. Hadasit Bio-Holdings itself has invested an additional $1 million in the company.

The idea behind ProtAb’s technology is deceptively simply. Their therapeutic approach is based on simulating a molecule that suppresses inflammation. The company’s first product – Proximab – is a promising monoclonal antibody for the treatment of rheumatoid arthritis (RA) and a wide span of autoimmune inflammatory diseases, including Inflammatory Bowel Disease (IBD) and Psoriasis. Thus far, ProtAb has established preclinical proof-of-concept for Proximab, demonstrating a significant effect in various experimental autoimmune disease models of RA and IBD. Furthermore, ProtAb has successfully completed the humanization of Proximab and evaluation of efficacy both in vitro and in vivo. Advanced preclinical development is ongoing, and is aimed at completion of the development of a CHO manufacturing cell line, on the pathway towards GMP manufacturing, toxicology experiments and initiation of a Phase I/IIA clinical trial in RA.

So – are they on the road to success? The real answer is that nobody can tell yet. However, it seems to me that most start-ups die quite early because of bad management decisions. ProtAb has passed that early stage, and would seem to be backed up by capable management. All that is left now is for them to prove their scientific merit – and perhaps we’ll have another Teva on our hands.

One can always hope, right?