Navigation Links
Proteon Therapeutics Completes $38M Equity Financing; Initiates Phase 1/2 Clinical Study of PRT-201 in Hemodialysis Patients and Signs Option Agreement With Major Pharmaceutical Company
Date:3/5/2009

WALTHAM, Mass., March 5 /PRNewswire/ -- Proteon Therapeutics, Inc., announced today that it has successfully completed a $38 million Series B equity financing, led by MPM Capital on behalf of the MPM Bio IV NVS Strategic Fund L.P. This announcement follows the initiation of a Phase 1/2 human clinical study of its lead product, PRT-201, in patients with end stage renal disease undergoing surgery for arteriovenous fistula (AVF) creation. Additionally, Proteon further bolstered its cash reserves by entering into an agreement with Novartis whereby Novartis has been granted an exclusive option to acquire Proteon following the successful completion of a Phase 2 clinical study of PRT-201 with a potential secondary right to a global license under pre-agreed conditions. Including the initial acquisition payment plus potential additional regulatory milestone payments, the deal with Novartis could exceed $550 million.

The Series B financing includes new investors, the MPM Bio IV NVS Strategic Fund L.P. and the Vectis Healthcare & Life Sciences Fund, along with existing investors TVM Capital, Skyline Ventures, Prism VentureWorks, Intersouth Partners and several of Proteon's original angel investors. Concurrent with the investment, Proteon also announced the addition of Dr. Steven St. Peter, Managing Director of MPM Capital, to the Proteon Therapeutics Board of Directors.

"Patients with kidney failure endure great suffering and frequent hospitalization due to vascular access complications. If successful, PRT-201 may improve medical outcomes and lower the associated cost of care," said Timothy P. Noyes, President and CEO of Proteon. "We greatly appreciate the continued support of our existing venture and angel investors, and we are excited to welcome MPM and Vectis as new investors." The combination of the Novartis option agreement and the closing of the Series B financing will allow Proteon to develop PRT-201 through Phase 2.


'/>"/>
SOURCE Proteon Therapeutics, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Page: 1 2

Related biology technology :

1. Proteon Therapeutics to Present New Data on PRT-201 at Transcatheter Cardiovascular Therapeutics (TCT) Annual Symposium in Washington, D.C., October 13, 2008
2. National Stem Cell Holding, Inc. Announces the Change of Its Name to Proteonomix, Inc.
3. Proteon Therapeutics Receives European Patent Covering New Method of Dilating Arteries and Veins
4. Proteon Therapeutics Appoints Experienced Biopharmaceutical Executive, Gregory D. Phelps to its Board of Directors
5. Proteon Therapeutics to Present at Annual Meeting of American Society of Nephrology in San Francisco on November 2, 2007
6. Proteon Therapeutics Completes $12 Million Financing and Hires CFO
7. Pharmexa and Affitech to Combine Operations to Create a New Antibody Therapeutics Company
8. ExonHit Therapeutics Invested Strongly in 2008 for Pivotal 2009 Results
9. Pearl Therapeutics Appoints Perry Karsen as Chief Executive Officer
10. CV Therapeutics Advises Stockholders to Take No Action at This Time in Response to Astellas Tender Offer
11. Cornerstone Therapeutics to Host Quarter and Year Ended December 31, 2008 Conference Call
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/11/2014)... , July 11, 2014 , ... part) in, into or from any jurisdiction where to do ... such jurisdiction.  Shire plc ("Shire" or the "Company") ... article this afternoon.  Shire confirms it has held a meeting ... made by Shire without the prior agreement or approval of ...
(Date:7/11/2014)... BCC Research ( http://www.bccresearch.com ) reveals in its ... TECHNOLOGY: GLOBAL MARKETS , the global market for digital ... in 2013. This is estimated to grow to $490 ... rate (CAGR) of 28.6%. , New digital PCR technology ... within the broader PCR field. The opportunities presented by ...
(Date:7/11/2014)... , July 11, 2014 /CNW/ - Sunovion Pharmaceuticals ... APTIOM TM (eslicarbazepine acetate) for use as a ... in patients with epilepsy who are not satisfactorily controlled ... for use in patients under 18 years of age. ... common neurological disorders and according to Epilepsy Canada, it ...
(Date:7/11/2014)... Scottsdale, AZ (PRWEB) July 11, 2014 ... medicine device company specializing in the soft tissue ... SureLock All-Suture Anchor System for surgeries involving the ... predictable fixation through a novel, inserter-controlled deployment method. ... lead to partial deployment, anchor pull-out, or anchor ...
Breaking Biology Technology:Shire plc - Statement re: Media Speculation 2Global Market for Digital Polymerase Chain Reaction Technology to Reach $490 Billion by 2018; Equipment Sector Accounts for the Fastest Growing Segment With 33% CAGR 2Global Market for Digital Polymerase Chain Reaction Technology to Reach $490 Billion by 2018; Equipment Sector Accounts for the Fastest Growing Segment With 33% CAGR 3Sunovion Pharmaceuticals Canada Inc. Announces Health Canada Approval of APTIOM(TM) (eslicarbazepine acetate) as a Once-Daily Adjunctive Treatment for Partial-Onset Seizures in Patients with Epilepsy 2Sunovion Pharmaceuticals Canada Inc. Announces Health Canada Approval of APTIOM(TM) (eslicarbazepine acetate) as a Once-Daily Adjunctive Treatment for Partial-Onset Seizures in Patients with Epilepsy 3Sunovion Pharmaceuticals Canada Inc. Announces Health Canada Approval of APTIOM(TM) (eslicarbazepine acetate) as a Once-Daily Adjunctive Treatment for Partial-Onset Seizures in Patients with Epilepsy 4Cayenne Medical Launches SureLock™ All-Suture Anchor System for Shoulder and Extremity Surgery 2Cayenne Medical Launches SureLock™ All-Suture Anchor System for Shoulder and Extremity Surgery 3
... Enrollment in First Cohort --, SAN DIEGO, ... today announced that the Company,has completed enrollment of ... trial,to assess the safety and tolerability of new ... The trial is expected to dose up to ...
... (OTC Bulletin Board: NILT.OB), a biopharmaceutical company focused ... Mr.,Pedro Granadillo was appointed on October 16, 2007 ... is a highly-respected pharmaceutical industry,leader with over 30 ... and quality assurance. "We are pleased to ...
... AMICAS, Inc. (Nasdaq: AMCS ),a leader in radiology ... will present to and meet with investors at,the CIBC ... New,York. (Logo: http://www.newscom.com/cgi-bin/prnh/20060202/AMICASLOGO ), WHEN: ... begins promptly at 10:20 a.m. (Eastern Time), 9:20 a.m. ...
Cached Biology Technology:Nventa updates progress of cervical dysplasia trial with new HspE7 2Nventa updates progress of cervical dysplasia trial with new HspE7 3Nventa updates progress of cervical dysplasia trial with new HspE7 4Nventa updates progress of cervical dysplasia trial with new HspE7 5Nile Therapeutics Appoints Pedro Granadillo to Board of Directors 2Nile Therapeutics Appoints Pedro Granadillo to Board of Directors 3
(Date:7/11/2014)... 11, 2014 Researchers have pioneered a revolutionary ... new technology, called Virtual Finger, allows scientists to ... neurons and synapses using the flat surface of ... 3D imaging studies orders of magnitude more efficient, ... level across many areas of experimental biology. The ...
(Date:7/11/2014)... that under the normal circumstances, astrocytes participate ... neuronal environment, and exhibit therapeutic and repairing ... Previous studies have found that nerve cells ... induction have reduced viability, which produces influences ... Yuan, Kailuan General Hospital, Hebei United University, ...
(Date:7/11/2014)... Janeiro, Brazil- In the brains of all vertebrates, ... allows an electric or chemical signal to be ... synapses, which are the most abundant type of ... formation is crucial for learning, memory, perception and ... synapses critical for brain function. For instance, ...
Breaking Biology News(10 mins):Virtual finger enables scientists to navigate and analyze complex 3D images 2Blame it on the astrocytes 2
... Energy,s Brookhaven National Laboratory have identified two promising candidates ... cause of ailments ranging from colds to gastrointestinal disorders ... Letters , a journal of the Federation of European ... of compounds to determine which might block the effects ...
... in metabolic pathways as a result of oncogenes that ... 2) works as a "master gene" that turns on ... to protect the lungs from variety of air pollutants ... at the Johns Hopkins Bloomberg School of Public Health ...
... CATransport proteins are responsible for moving materials such as ... which seals and protects all living cells, to the ... be used to fuel growth or to respond to ... cell. Measuring the activity of transporter proteins in a ...
Cached Biology News:Scientists identify promising antiviral compounds 2Scientists identify promising antiviral compounds 3Hijacking stress response in cancer 2Breakthrough: Sensors monitor cells at work 2
PSMD1 Antibody...
Terrific Broth, 1 kg. Mixture of casein peptone, yeast extract, K2HPO4, and KH2PO4.Used at 47 g/l for E. coli growth with higher cell densities. Category: Nucleotides & Enzymes & Biochemicals, Ultrap...
... The high-performance triple quadrupole 1200L ... in today's cost-conscious environment - incorporating ... solutions for all liquid chromatography analytical ... (API) interface and the Transmission Quadrupole ...
Human beta IG-H3 MAb (Clone 348506) Keywords: BIGH3, betaIG-H3 Protein Family: Extracellular Matrix Molecules...
Biology Products: