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Protagen AG Closes New Round of Financing to Strengthen Technology Position for Novel Diagnostics



8/1/2008 7:58:12 AM

Dortmund, Germany and New Jersey, USA, August 1, 2008: Protagen AG, a leading provider of GMP compliant protein analytical services, protein bio­informatics, and protein biochips announces the closing of a new round of financing. The capital will be used to strengthen and expand the company’s UNIarray® technology position and the development of novel diagnostics. The capital raised in this round has come from the existing institutional investors, MIG AG, Munich, S-Venture Capital Dortmund GmbH, and Kreditanstalt für Wiederaufbau (KfW).

Background: UNIarray® is a unique technology platform for the development of novel diagnostics based on indication specific autoantibody patterns in patient sera. These indication specific autoantibody patterns were already proven to be present in several autoimmune diseases, but also in cancer, neurodegenerative disorders, and even in apparently healthy individuals. Therefore, the systematic and indication-specific determination of autoanti­body patterns will serve as a unique basis to address hitherto unmet dia­gnostic needs. In addition, UNIarray® serves as a platform for the develop­ment of product specific companion diagnostics and patient stratification for clinical studies. In-house research at Protagen is presently focused on novel diagnostics for prostate cancer, multiple sclerosis, rheumatoid arthritis, juvenile idiopathic arthritis, Morbus Parkinson, and Alzheimer’s.

At the same time Dr. Christoph Hüls (CEO) will leave Protagen for private reasons and will move to a new position in a large pharmaceutical company. The Chairman of the Board of Protagen AG, Prof. Axel Kleemann, regrets the departure of Christoph Hüls and the end of a long and trustful cooperation. Dr. Stefan Müllner (CSO) will take over the position as new CEO.


Read at BioSpace.com


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