NEWARK, CA / ACCESSWIRE / November 9, 2023 / Protagonist Therapeutics (NASDAQ:PTGX) today announced it ranked in the top 3% of the 2023 Deloitte Technology Fast 500TM, a list of the fastest-growing technology, media, telecommunications, life sciences, fintech and energy tech companies in North America. Life sciences and software companies dominated at the top of the Fast 500 this year; Protagonist joins Vir Biotechnology and Moderna among the top companies across all sectors.
The Deloitte Technology Fast 500 selects winners based on percentage fiscal year revenue growth from 2019 to 2022. Protagonist's revenue growth was fueled by milestones and royalties stemming from partnership of a novel oral peptide therapeutic program for immunologic and inflammatory disease.
Dinesh V. Patel, PhD, President and CEO, Protagonist Therapeutics, said, "Protagonist Therapeutics is very pleased to be ranked among the top 20 Deloitte Technology Fast 500 winners for 2023. This honor reflects the validation of our innovative peptide technology platform, the promise of peptide therapeutics, the dedication of our team and the strength of our partnerships. We intend to continue on this trajectory with the ultimate goal of bringing new medicines to address unmet needs in patients."
Paul Silverglate, vice chair, Deloitte LLP and U.S. technology sector leader, said, "Each year, we look forward to reviewing the progress and innovations of our Technology Fast 500 winners. This year is especially celebratory as we expand the number of winners to better represent just how many companies are developing new ideas to progress our society and the world, especially during a slow economy."
About the 2023 Deloitte Technology Fast 500TM
Now in its 29th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies - both public and private - in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2019 to 2022. In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least US$50,000, and current-year operating revenues of at least US$5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
About Protagonist Therapeutics
Protagonist Therapeutics is a biopharmaceutical company with peptide-based new chemical entities (NCEs) rusfertide and JNJ-2113 (formerly PN-235) in advanced stages of clinical development, both derived from the Company's proprietary technology platform. Protagonist and Janssen scientists jointly discovered PN-235 (now known as JNJ-2113) as part of Protagonist's Interleukin-23 receptor (IL-23R) collaboration with Janssen and followed it through IND-enabling pre-clinical and Phase 1 studies, with Janssen assuming responsibility for further clinical development. Rusfertide, a mimetic of the natural hormone hepcidin, is the Company's lead drug candidate currently in a global Phase 3 development program. The randomized portion of the Phase 2 REVIVE study was unblinded, showing positive results and is now complete, with an open-label extension underway. The global Phase 3 VERIFY study of rusfertide in polycythemia vera is ongoing. Protagonist retains all worldwide development and commercialization rights to rusfertide. More information on Protagonist, its pipeline drug candidates and clinical studies can be found on the Company's website at www.protagonist-inc.com.
Cautionary Note on Forward-Looking Statements
This press release contains forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding our proprietary peptide platform and our partnerships. In some cases, you can identify these statements by forward-looking words such as "anticipate," "believe," "may," "will," "expect," or the negative or plural of these words or similar expressions. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results and events to differ materially from those anticipated, including, but not limited to, our ability to develop and commercialize our product candidates, our ability to earn milestone payments under our collaboration agreement with Janssen, our ability to use and expand our programs to build a pipeline of product candidates, our ability to obtain and maintain regulatory approval of our product candidates, our ability to operate in a competitive industry and compete successfully against competitors that have greater resources than we do, and our ability to obtain and adequately protect intellectual property rights for our product candidates. Additional information concerning these and other risk factors affecting our business can be found in our periodic filings with the Securities and Exchange Commission, including under the heading "Risk Factors" contained in our most recently filed periodic reports on Form 10-K and Form 10-Q filed with the Securities and Exchange Commission. Forward-looking statements are not guarantees of future performance, and our actual results of operations, financial condition and liquidity, and the development of the industry in which we operate, may differ materially from the forward-looking statements contained in this press release. Any forward-looking statements that we make in this press release speak only as of the date of this press release. We assume no obligation to update our forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this press release.
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SOURCE: Protagonist Therapeutics, Inc.