ProtAffin AG Completes Second Closing of Series A Financing

GRAZ, Austria, Jan. 14, 2008 : ProtAffin Biotechnologie AG, a biotechnology company developing protein therapeutics that act by targeting glycan structures, today announced that it has completed a second closing of its Series A financing. The Entrepreneurs Fund BV invested €1.35m in the second closing, in addition to the €2.65m first closing in May 2007 from Aescap Venture Management BV and Z-Cube Srl. This brings the total funds raised in the Series A financing to €4m.