Meta description: Triana Biomedicines raises $120 million in a Series B while Protego Biopharma secures $130 million, signaling strong December biotech funding momentum.
Biotech fundraising continued at a strong pace in December, with two sizable rounds drawing attention from investors and industry watchers. Triana Biomedicines closed a $120 million Series B to advance its molecular glue degrader pipeline, while Protego Biopharma secured $130 million to support pivotal trials for a rare disease therapy. Both transactions point to sustained investor appetite for biotech innovations approaching late-stage clinical milestones.
Who invested in Triana’s $120M Series B?
Triana Biomedicines brought in $120 million from a consortium led by RA Capital Management, Atlas Venture, Lightspeed Venture Partners, Pfizer Ventures, and Surveyor Capital. The company plans to channel the funds into advancing its ALK-targeted molecular glue degrader, TRI-611, into clinical trials. Management also indicated intentions to select a second preclinical candidate for development. The investment group includes both prominent life sciences VCs and strategic corporate investors, reinforcing confidence in the platform.
What does Protego’s $130M round aim to achieve?
Protego Biopharma closed a $130 million Series B with participation from Novartis Venture Fund, Forbion, Omega Funds, Droia Ventures, YK Bioventures, Digitalis Ventures, Vida Ventures, MPM BioImpact, Lightspeed Venture Partners, and Scripps Research. The capital is set to take lead asset PROT-001, aimed at amyloid light-chain (AL) amyloidosis, through pivotal trials. The company positions PROT-001 as a possible first disease-modifying therapy for AL amyloidosis, potentially altering patient outcomes in an underserved indication.
How do these raises fit into broader biotech funding trends?
December’s activity illustrates continued investor interest in companies with clear therapeutic targets and clinical trial readiness. Both Triana and Protego are advancing candidates into or toward pivotal-stage trials, a milestone that often attracts significant venture capital. The participation of corporate venture arms such as Pfizer Ventures and Novartis Venture Fund adds strategic depth, suggesting potential for partnerships or future acquisitions. Comparable late-stage fundraises earlier in the year indicate this is part of a larger pattern of capital flowing toward high-value clinical opportunities.
These financings also underscore diversification in biotech funding sources, with contributions from global venture funds, corporate investors, and institutional asset managers. For startups, this signals that well-positioned clinical pipelines continue to resonate with a broad spectrum of capital providers.
FAQ
1. How will Triana use its $120 million?
Triana will move its lead ALK-targeted therapy into the clinic and select an additional candidate from its preclinical pipeline for prioritization.
2. What stage is Protego’s lead program?
PROT-001 is poised for pivotal trials targeting AL amyloidosis.
3. Who are the notable investors in these rounds?
Triana’s round included RA Capital Management, Pfizer Ventures, and Atlas Venture. Protego’s backers include Novartis Venture Fund, Forbion, and Scripps Research.
4. What does this mean for biotech funding in 2025?
It reflects continued strength in later-stage biotech financing, particularly for companies near critical clinical milestones.
Key takeaways
Triana and Protego’s December rounds show that capital remains available for biotech ventures with well-defined therapeutic programs entering crucial trial phases. Strategic participation by corporate venture arms may position these companies for partnership or acquisition as their assets advance. Founders and investors should note the alignment between clear clinical pathways and funding success.
Disclaimer
This content is for informational purposes only and does not constitute financial or investment advice.
Announcement
This article is based on publicly available financial information.