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Proteon Therapeutics Raises $15.2M

2011-08-12
Previous investors include Bessemer Venture Partners, Devon Park Bioventures, MPM Bio IV NVS Strategic Fund LP, Vectis Healthcare and Life Sciences Fund, TVM Capital, Skyline Ventures, Prism VentureWorks, Intersouth Partners and several angel investors.
WALTHAM, MA, Biopharmaceutical firm Proteon Therapeutics Inc. has raised a new $15.2 million financing round, federal documents show.

A total of 19 backers were involved in the round, but not listed by name. Previous investors in Proteon include Bessemer Venture Partners, Devon Park Bioventures, MPM Bio IV NVS Strategic Fund LP, Vectis Healthcare & Life Sciences Fund, TVM Capital, Skyline Ventures, Prism VentureWorks, Intersouth Partners and several angel investors.

Proteon Therapeutics, Inc is a privately held biopharmaceutical company developing novel, first-in-class pharmaceuticals to address the medical needs of patients with renal and vascular diseases. Proteon Therapeutics' first drug candidate, PRT-201, is a locally-acting recombinant human elastase that fragments elastin fibers in blood vessel walls. Proteon is investigating whether elastase could be used as a treatment to dilate arteries and veins and to reduce neointimal hyperplasia in settings where such effects would result in a medical benefit.

The Company is initially evaluating whether PRT-201 can improve the outcomes associated with the surgical creation of vascular accesses in chronic kidney disease patients undergoing hemodialysis. PRT-201 has received FDA fast track and orphan drug designations for hemodialysis vascular access indications.



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