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Proteus Biomedical, Inc. Raises $32 Million in Series D Funding



10/15/2008 6:24:26 AM

REDWOOD CITY, Calif.--(BUSINESS WIRE)--Proteus Biomedical Inc., a pioneer in intelligent medicine, announced today that the company has raised $32 million in a series D equity financing. New corporate investors Medtronic and Itochu join existing investors St. Jude Medical, Adams Street Partners, The Carlyle Group, Essex Woodlands, Kaiser Permanente Ventures, Spring Ridge Ventures and others. The company’s current round of financing will remain open for a period of time to additional investors.

Proteus develops products that integrate its proprietary in-body electronics and sensor technologies into existing medical devices and pharmaceuticals to dramatically improve therapeutic outcomes. This round funds the company’s cardiovascular therapeutic device programs through development and manufacturing, and advances its cardiovascular and other pharmaceutical systems programs through multiple human studies.

“I am pleased that we have attracted world-leading investors who endorse our vision of intelligent medicine and recognize the company’s potential to drive significant value across a number of therapeutic areas,” said Andrew Thompson, chief executive officer of Proteus Biomedical. “We have established a strong foundation with our strategic partners, and look to the next phase of expansion into new areas as the first Proteus-enabled products are commercialized.”

About Proteus Biomedical

Proteus Biomedical is pioneering intelligent medicine, an emerging field of advanced therapeutics that integrates in-body computer, sensor and communications technologies into existing medical device and pharmaceutical products. Proteus’s proprietary computing and sensing technologies enable proven therapies to be personalized, offering broad potential benefits across a range of care settings and therapeutic areas including cardiovascular, psychiatric, metabolic and neurologic disorders. The company’s first products, novel pacing and sensor-enabled devices for Cardiac Resynchronization Therapy, are in development in collaboration with world leaders in cardiovascular implantable devices.

More information about Proteus Biomedical can be found at www.proteusbiomed.com.

Contact:

for Proteus Biomedical Inc. Angela Strand, 415-902-3762

Source: Proteus Biomedical Inc.


Read at BioSpace.com


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