Australia, Melbourne-based biotechnology firm Prota Therapeutics has raised $21 million in equity and debt financing in a funding round led by SPRIM Global Investments. Prota Therapeutics focuses on the development of novel oral immunotherapy treatments to induce remission of allergies, with a specific emphasis on peanut allergy. The funding will be utilized to accelerate the Phase 3 clinical investigation of its PRT120 oral therapy for peanut allergy. Established in 2016, Prota Therapeutics aims to commercialize innovative oral immunotherapy treatments for food allergies, building on over 15 years of research led by Professor Mimi Tang at the Murdoch Children’s Research Institute.