Proteon Therapeutics - Top 20 Biotech VC Deals of 2009

Company: Proteon Therapeutics
Based: Waltham, MA
Amount: $50 million

Investors: Bessemer Venture Partners, Devon Park Bioventures and previous investors

Scoop: In May 2009, Fierce 15 winner Proteon Therapeutics rounded up $12 million at the close of its second round, bringing its take in the Series B to an even $50 million.

The company's lead product candidate, PRT-201, received orphan drug designation from the FDA for the prevention of arteriovenous fistula maturation failure and arteriovenous graft failure in patients with end-stage renal disease who are on or preparing for hemodialysis. Researchers are testing PRT-201's safety and looking for some hints of its ability to dilate blood vessels in patients, which could offer relief from a range of ailments. It can be applied topically during surgery--the simplest and most straightforward approach--or perhaps infused through a catheter. The funding will allow the company to develop its promising drug beyond an AVF Phase II clinical study.

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