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Protagen closes new round of financing to strengthen technology position for novel diagnostics

08-01-2008 05:55 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Protagen AG

/ PR Agency: Dr. Holger Bengs Biotech Consulting
Dortmund, Germany and New Jersey, USA, August 1, 2008: Protagen AG, a leading provider of GMP compliant protein analytical services, protein bioinformatics, and protein biochips announces the closing of a new round of financing. The capital will be used to strengthen and expand the company’s UNIarray® technology position and the development of novel diagnostics. The capital raised in this round has come from the existing institutional investors, MIG AG, Munich, S-Venture Capital Dortmund GmbH, and Kreditanstalt für Wiederaufbau (KfW).

Background: UNIarray® is a unique technology platform for the development of novel diagnostics based on indication specific autoantibody patterns in patient sera. These indication specific autoantibody patterns were already proven to be present in several autoimmune diseases, but also in cancer, neurodegenerative disorders, and even in apparently healthy individuals. Therefore, the systematic and indication-specific determination of autoantibody patterns will serve as a unique basis to address hitherto unmet diagnostic needs. In addition, UNIarray® serves as a platform for the development of product specific companion diagnostics and patient stratification for clinical studies. In-house research at Protagen is presently focused on novel diagnostics for prostate cancer, multiple sclerosis, rheumatoid arthritis, juvenile idiopathic arthritis, Morbus Parkinson, and Alzheimer’s.

At the same time Dr. Christoph Hüls (CEO) will leave Protagen for private reasons and will move to a new position in a large pharmaceutical company. The Chairman of the Board of Protagen AG, Prof. Axel Kleemann, regrets the departure of Christoph Hüls and the end of a long and trustful cooperation. Dr. Stefan Müllner (CSO) will take over the position as new CEO.

Contact
Dr. Stefan Müllner
CEO
Protagen AG
Otto-Hahn-Str. 15
44227 Dortmund
Tel: +49 (0) 231 9742 6300
Fax: +49 (0) 231 9742 6301
E-Mail: info@protagen.de

Media Enquiries
Dr. Holger Bengs
Biotech Consulting
Tel: +49 (0) 69 6199 4273
Fax: +49 (0) 69 6199 4249
E-Mail: info@holgerbengs.de

About Protagen AG
Protagen AG (www.protagen.de) is a leading provider of products, services and software solutions for protein research with sites in Dortmund, Germany, and Chester, New Jersey, USA. Technology innovations of Protagen are UNIclone®, a patented platform for development and use of protein expression libraries, and UNIchip®, a versatile and highly efficient family of products for the development of antibodies, as well as UNIarray®, a unique technology base for the development of new diagnostics.

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