"Vascular access complications represent a significant healthcare problem, and we were impressed by the market opportunity for PRT-201 and with the quality of Proteon's team," said Dr. Steven St. Peter, Managing Director of MPM Capital. "We are pleased to be a part of this successful financing structure, and I look forward to working closely with Proteon."
PRT-201 is a recombinant human elastase that is being studied for its ability to improve arteriovenous fistula (AVF) surgery outcomes in patients requiring chronic hemodialysis. PRT-201 has been shown to cause dilation of segments of arteries and veins following topical intraoperative application in animals. Vessel dilation and increased blood flow through the fistula may decrease AVF maturation failure rates. Improved maturation rates may lead to fewer corrective surgical procedures, hospitalizations, lower costs, and less suffering for dialysis patients. PRT-201 also will be studied for its ability to prolong the patency of arteriovenous grafts (AVGs).
About Proteon Therapeutics
Proteon Therapeutics, Inc., is a privately held biopharmaceutical company developing novel, first-in-class pharmaceuticals to address the critical medical needs of patients with kidney and vascular diseases. The company is headquartered in Waltham, Mass., and has research facilities in Kansas City, Mo. For additional information, please visit www.proteontherapeutics.com.
About MPM Capital
MPM Capital is one of the world's largest life science-dedicated venture investors. With committed capital under management in excess of $2.4 billion, MPM Capital is uniquely structured to invest globally in healthcare innovation.
|SOURCE Proteon Therapeutics, Inc.|
Copyright©2009 PR Newswire.
All rights reserved