Protagen Successfully Closes New Financing Round
Dortmund, Germany - 16th December, 2014 PROTAGEN AG, a leading specialist in the development of novel diagnostic tests and companion diagnostics in the autoimmune field, today announced the closing of a new financing round. In this round, QIAGEN N.V., joins existing investors MIG Fonds, Munich, NRW.BANK, Düsseldorf, and Protagen Management.
This is the first closing of a financing round with a total volume of € 10 Mio. The second closing with additional new investors is planned for the third quarter of 2015.
This latest financing round demonstrates the confidence of new and existing investors in Protagen, based upon reaching significant milestones, such as the Pharma collaboration with Pfizer Inc. and the mid 2014 launch of the first research use ADx Multilisa® SSc assay.
"The successful first closing of this round marks a significant milestone in our development and growth," said Dr. Stefan Müllner, CEO, Protagen AG. "The financial investment will enable Protagen to complete and commercialize its current IVD development programs in Rheumatoid Arthritis, Systemic Lupus, and Systemic Sclerosis. In addition, it will strengthen our position for furthering our partnerships with Pharma and Biotech companies in one of the most attractive drug development areas."
About Protagen - Diagnostics Differentiated
Protagen AG, headquartered in Dortmund, Germany, specializes in the development of novel diagnostic and companion diagnostic tests to provide better and earlier diagnosis of autoimmune diseases.
Protagen uses its proprietary SeroTag biomarker platform to identify disease specific autoantibodies and is on target to become the leading provider of autoimmune diagnostic products, specifically targeting diseases with an unmet need for effective diagnostics. With pioneering bioscience techniques, extensive scientific expertise and a broad patent portfolio, Protagen works to develop its own diagnostic pipeline and partners with other organizations to develop and implement new companion diagnostic tools for better personalized treatment strategies.
For more information, please visit www.protagen.com.