Proteon Adds $12M To B Round

5/28/09

Waltham, MA-based Proteon Therapeutics, which specializes in drug development for kidney and vascular diseases, announced today that it has completed a second closing for its Series B equity financing round. $12 million primarily came from new investors Bessemer Venture Partners and Devon Park Bioventures, raising the total for the round to $50 million.  Vectis Healthcare & Life Sciences Fund, MPM Bio IV NVS Strategic Fund L.P., TVM Capital, Skyline Ventures, Prism VentureWorks, and Intersouth Partners participated in the first closing back in March. At that time, Proteon also inked a deal with Novartis to give the Swiss drug giant the option to acquire the company following successful Phase 2 trials of its leading product, PRT-201, which is intended to help ease surgery for dialysis patients. We’re coming down with a serious case of deja vu over here…

[Updated at 3:00pm to clarify the details of the two separate closings.]

Roxanne is an intern in Xconomy's Boston office. You can reach her at rpalmer@xconomy.com. Follow @

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