|Convertible Note, 1/2014 ||$2.83M|
Protalex, Inc., a development stage company, develops a class of biopharmaceutical drugs designed to treat autoimmune and inflammatory diseases, including rheumatoid arthritis. PRTX-100 The company’s lead product, PRTX-100, is a formulation of a proprietary, highly-purified form of the Staphylococcal bacterial protein known as Protein A, which is an immune modulating protein produced by bacteria. PRTX-100 has the ability, at very low concentrations, to bind to and to regulate activation of human B-lymphocytes and macrophages which mediate inflammation in certain autoimmune diseases. PRTX-100 is in Phase 1b clinical trial for the treatment of patients with rheumatoid arthritis. Patents, Trademarks, and Proprietary Technology The company filed an initial therapeutic use patent application with the U.S. Patent and Trademark Office, which issued in May 2007, as U.S. 7,211,258 (the 258 Patent). The 258 Patent has claims relating to the treatment of acute inflammation, as well as rheumatoid arthritis and systemic lupus erythematosis using protein A. A second patent claiming the use of protein A to treat idiopathic thrombocytopenia or autoimmune thrombocytic purpura issued as U.S. 7,425,331. A further patent for the use of protein A issued as U.S. 7,807,170 in 2010 (the 170 Patent). The 170 Patent claims the use of protein A to reduce an acute inflammatory response or inflammation, including when these symptoms are associated with myasthenia gravis, ulcerative colitis, Crohn’s disease, psoriatic arthritis or pemphigus vulgaris. A further patent claiming the use of protein A to treat psoriasis and scleroderma issued as U.S. 8,168,189 in 2012. The company has also filed for foreign patent protection in Canada, Japan and the European Union. Japanese patent JP 4598404 issued in 2010 with claims relating to use of protein A to treat rheumatoid arthritis, systemic lupus erythematosis, idiopathic thrombocytopenia, and autoimmune thrombocytopenia purpura. History Protalex, Inc. was founded in 1999.