Proteon completes $12M financing

Proteon Therapeutics, a privately-held US biopharmaceutical firm developing novel, first-in-class pharmaceuticals for patients with renal and vascular diseases, has recently completed a $12.0 million financing with its current investor syndicate.

Proteon will use these funds to advance its first product candidate, PRT-201, into human clinical studies in both hemodialysis vascular access and peripheral arterial disease. Proteon's investors include TVM Capital, Skyline Ventures, Prism VentureWorks and Intersouth Partners.

Concurrent with the investment, Proteon also announced the addition of Hubert Birner of TVM Capital and Garheng Kong of Intersouth Partners to its board of directors.