Protagen raises EUR 1 million to expand its protein biochips business unit
Protagen AG announced the closing of an interim financing round. The EUR 1 million raised will be used to expand the company's protein biochips business unit. The capital raised in this round has come from the existing institutional investors, MIG AG and Co KG Beteiligungsfonds 3, Munich, and S-Venture Capital Dortmund GmbH, as well as from a new investor, Kreditanstalt für Wiederaufbau (KfW). This latest funding brings the total amount of venture capital financing raised by Protagen since 2004 to EUR 5.3 million.
Using this new capital Protagen aims to leverage its leading position in protein biochips to create new products and services in the area of biomarkers, both independently and in conjunction with pharmaceutical partners.
Protagen is also working on its own programmes for the development of prototype diagnostics for multiple sclerosis, rheumatoid arthritis, juvenile idiopathic arthritis and Alzheimer's disease. The programme for multiple sclerosis is the most advanced, with a prototype diagnostic for the disease already being tested in large numbers of patients.
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