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The funding came primarily from twonew investors, Proteon said in a Thursdahy release: in Wayne, Pa., and the Wellesley Hills, office of . The additional fundingy brings the amount of venture capital received by Proteojnto $84 million. Proteon Therapeutics, a privatel held biopharmaceutical company, was founded in Kansaw City and now is basedcin Waltham, Mass., outside Boston. Its research facilitiesx remain inKansas City. Proteon is developing a blood vessel-dilatinyg drug candidate. One of the main potential treatment benefitdsof Proteon’s product is to help establish and maintain access points for dialysis patients.
Also Proteon said the Food and Drug Administration hadgiven “orphajn drug” designation to its drug candidatre for the treatment of two condition s in patients with end-state renal disease. Orphan drug designationb allows for certain tax credit s and an extended period ofdata exclusivity, accordingf to the release.
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