BioSpace Collaborative

Academic/Biomedical Research
News & Jobs
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  C2C Services & Suppliers™
Europe
Asia

DIVERSITY

PROFILES
Company Profiles

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Research Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
Get Our Industry eNewsletter FREE email:    
   

Awaiting Novartis AG Acquisition, Biotech Firm Proteon Therapeutics, Inc. Raises $15.2 Million


8/12/2011 8:04:43 AM

Boston Business Journal - by Rodney Brown , Masshightech.com

Proteon Therapeutics Inc. Proteon Therapeutics Inc. Latest from The Business Journals Novita Therapeutics lands M from Open Prairie VenturesProteon Therapeutics advances drug candidate, sale to NovartisKCNext takes over speaker series featuring Kansas City tech leaders Follow this company , which is slated to be acquired by pharmaceutical giant Novartis AG Novartis AG Latest from The Business Journals Drug shortages threaten cancer trialsMomenta's earnings rise on market grab from SanofiHealth care venture funding up in Ohio Follow this company (NYSE:NVS) pending the success of a clinical study, has drawn a new $15.2 million financing round, federal documents show.

The new funding for the Waltham, Mass.-based biopharmaceutical firm is in exchange for equity and options, according to the filing with the U.S. Securities and Exchange Commission. A total of 19 backers were involved in the round, but not listed by name.

Previous investors in Proteon include Bessemer Venture Partners Bessemer Venture Partners Latest from The Business Journals Reputation.com raises millionReputation.com raises MReputation.com raises M to protect online identities Follow this company , Devon Park Bioventures, MPM Bio IV NVS Strategic Fund LP, Vectis Healthcare & Life Sciences Fund, TVM Capital, Skyline Ventures, Prism VentureWorks, Intersouth Partners and several angel investors.

Proteon last brought in investor money in May of 2009, when it added $12 million to its Series B round, boosting that round $50 million, officials said at the time. The first tranche of the Series B was announced in March of 2009, when the company also announced it had entered into the deal with Novartis AG.

Under the agreement’s terms, Novartis got an exclusive option to acquire Proteon after the successful completion of a Phase 2 study of its drug PRT-201. It also has potential secondary rights to a global license under stipulated conditions. Between the acquisition and potential regulatory milestone payments, the deal with Novartis was valued at a potential $550 million.

In April, Proteon bagan enrollment in a Phase 2 clinical study of its lead product, PRT-201, in chronic kidney disease patients undergoing surgery for arteriovenous fistula creation in preparation for hemodialysis. In addition to its headquarters in Waltham, Proteon has research facilities in Kansas City, Mo.



   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES
 

//-->