Dr. Steven St. Peter Named to Proteon Board of Directors
KANSAS CITY, Mo., March 5 /PRNewswire/ -- MPM Capital, one of the world's largest life sciences-dedicated venture capital investors, announced today that it is the lead investor in a $38 million Series B equity financing of Proteon Therapeutics. In addition, Dr. Steven St. Peter, Managing Director of MPM Capital, has been named to the Proteon Therapeutics Board of Directors.
Proteon recently initiated a Phase 1/2 clinical trial of its lead product, PRT-201. 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.
"MPM continues to be very impressed with Proteon and the progress that the company has made," said Dr. Steven St. Peter. "In addition, this marks the first investment by MPM in a company with a substantial Kansas City presence. We have long followed the positive developments in the Kansas City area life sciences sector, and this investment affirms our view that attractive opportunities originate there."
Over the last several years, Dr. Steven St. Peter has worked informally with the Kansas City Area Life Sciences Institute in an advisory capacity. In addition, he currently serves as a member of the Kansas Bioscience Authority's Heartland BioVentures Advisory Board. Originally from Wichita, Dr. St. Peter has a B.A. in Chemistry from the
"Proteon is very pleased to have attracted the interest of MPM Capital, one of the world's premier healthcare venture capital firms," said F. Nicholas Franano, M.D., Chief Scientific Officer and founder of Proteon Therapeutics. "MPM's understanding of
|SOURCE MPM Capital|
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