Navigation Links
Proteon Therapeutics Completes $12 Million Financing and Hires CFO
Date:9/6/2007

WALTHAM, Mass., Sept. 6 /PRNewswire/ -- Proteon Therapeutics (http://www.proteontherapeutics.com), a privately held biopharmaceutical company developing novel, first-in-class pharmaceuticals to address the medical needs of patients with renal and vascular diseases, recently completed a $12 million financing with its current investor syndicate. Proteon will use these funds to advance its first product candidate, PRT-201, into human clinical studies in both hemodialysis vascular access and peripheral arterial disease. Proteon's investors include TVM Capital, Skyline Ventures, Prism VentureWorks and Intersouth Partners. Concurrent with the investment, Proteon also announced the addition of Dr. Hubert Birner of TVM Capital and Dr. Garheng Kong of Intersouth Partners to the Proteon Therapeutics Board of Directors.

Additionally, the Company also announced the expansion of its management team with the recent hiring of Mark J. Fitzpatrick as its Vice President and Chief Financial Officer. Mr. Fitzpatrick brings over 17 years of biotechnology industry experience to Proteon.

"This is an exciting time for Proteon Therapeutics as we advance our lead drug candidate, PRT-201, toward clinical studies, and strengthen the company from a financial and human capital standpoint," said Timothy Noyes, Proteon's president and CEO. "We continue to benefit from a strong partnership with our investors and the current financing is evidence of their belief in our science and our team. The outstanding quality of our people and technology are also instrumental in our ability to attract world class talent such as Hubert, Garheng and Mark. Hubert and Garheng are great additions to our Board, and Mark brings tremendous financial and business skills to Proteon."

"Intersouth Partners was pleased to join the other existing investors in providing additional financing to Proteon as it advances PRT-201 toward human clinical study," said Garheng Kong of Intersouth Partners. "I personally look forward to working more closely with the Company as a new member of its Board of Directors."

Mark J. Fitzpatrick brings to Proteon more than 17 years experience in the financial management of biotechnology companies, including as Chief Financial Officer of RenaMed Biologics, Inc. and Dynogen Pharmaceuticals, Inc., both privately held companies, as well as Diacrin, Inc., where he successfully completed its IPO. He also held financial management positions at Repligen Corporation and served on the professional staff of Arthur Andersen and Co.

About Proteon Therapeutics

Proteon Therapeutics, Inc. is a privately held biopharmaceutical company developing novel, first-in-class pharmaceuticals to address the critical, rapidly expanding medical needs of patients with renal and vascular diseases. The company is leveraging a unique understanding of tissue remodeling to develop a pipeline of proprietary therapeutics. The company is headquartered in Waltham, MA and has research facilities in Kansas City, MO. For additional information please visit http://www.proteontherapeutics.com.


'/>"/>
SOURCE Proteon Therapeutics, Inc.
Copyright©2007 PR Newswire.
All rights reserved

Related biology technology :

1. Canadian firm buys Proventiv Therapeutics, makes ex-Bone Care exec CEO
2. Sonic Foundry completes $11.25M stock offer
3. Orion Energy completes $5M capital round
4. RedPrairie completes MARC acquisition
5. Metavante completes purchase of check processing firm
6. GE completes $1.2 billion acquisition
7. M & Is Metavante completes Brasfield Corp. acquisition
8. Metavante completes GHR Systems acquisition
9. Metavante completes TREEV acquisition
10. Johnson Controls completes sale of French unit
11. OpGen completes $5 million investment round
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/24/2016)... DIEGO , June 24, 2016 ... more sensitively detects cancers susceptible to PARP inhibitors ... circulating tumor cells (CTCs). The new test has ... HRD-targeted therapeutics in multiple cancer types. ... targeting DNA damage response pathways, including PARP, ATM, ...
(Date:6/23/2016)... CAMBRIDGE, Mass. , June 23, 2016 /PRNewswire/ ... the development of novel compounds designed to target ... compound, napabucasin, has been granted Orphan Drug Designation ... in the treatment of gastric cancer, including gastroesophageal ... cancer stemness inhibitor designed to inhibit cancer stemness ...
(Date:6/23/2016)... Calif. , June 23, 2016  The Prostate Cancer Foundation ... increasingly precise treatments and faster cures for prostate cancer. Members of the Class ... across 15 countries. Read More About the Class of ... ... ...
(Date:6/23/2016)... ... June 23, 2016 , ... In a new case report published today in ... patient who developed lymphedema after being treated for breast cancer benefitted from an injection ... for dealing with this debilitating, frequent side effect of cancer treatment. , ...
Breaking Biology Technology:
(Date:5/16/2016)... --  EyeLock LLC , a market leader of iris-based ... IoT Center of Excellence in Austin, Texas ... embedded iris biometric applications. EyeLock,s iris authentication ... with unmatched biometric accuracy, making it the most proven ... platform uses video technology to deliver a fast and ...
(Date:4/28/2016)... and BANGALORE, India , April 28, ... Systems, a product subsidiary of Infosys (NYSE: INFY ... announced a global partnership that will provide end ... use mobile banking and payment services.      (Logo: ... key innovation area for financial services, but it also plays ...
(Date:4/19/2016)... , UAE, April 20, 2016 ... be implemented as a compact web-based "all-in-one" system solution ... the biometric fingerprint reader or the door interface with ... of modern access control systems. The minimal dimensions of ... ID readers into the building installations offer considerable freedom ...
Breaking Biology News(10 mins):