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direct/ Protagen AG closes second round of financing with old and new investors

05-08-2006 04:49 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Protagen AG

The MIG AG Funds 1 and 3 in Munich are investing into Protagen AG. In cooperation with the co-investor S-Venture Capital Dortmund GmbH, Euro 3,3 Million will be invested into Protagen AG.

Protagen AG has successfully switched from a fee-for-service company to a product company. By introducing the protein biochip products UNIchip® AV-400 and UNIchip® AV-VAR customers from the entire biotech and pharmaceutical industry can profit from safer and more efficient development of monoclonal antibodies. The money from the actual financing round will used to expand the sales activities in Europe and the US and to broaden the product pipeline.

Founded in 1997 from the Ruhr-University in Bochum and the Max-Planck-Society in Munich, Protagen AG has developed into the premium provider for proteomics. Based on high quality protein analysis for R&D, GMP analysis of therapeutic proteins as well as software development for proteomics, a profitable business was build up. In 2004 a first financing round was closed in order to establish a new business field in protein biochips. Based on a strong patent position Protagen AG strives to become the leading provider of protein biochips.

In the last several years therapeutic monoclonal antibodies in clinical development or used in patients showed some unwanted effects. The UNIchip® products of Protagen AG have the potential to revolutionize the development of antibodies. The UNIchip® products are designed to test earlier and faster the most relevant parameters like cross reactivity and sensitivity of an antibody under development. By safer selection of the best antibodies, customers using the UNIchip® products or the services of Protagen AG will save time and money in their development processes.

About Protagen AG
Based in Dortmund, Germany, Protagen AG is counted among the world´s leading biotechnology companies in its field. The company, established in 1997, consistently translates the latest technologies in proteomics, protein biochips, and bioinformatics into services and products for the life science industries and academia. The current market position has been achieved by a corporate policy which is driven by a stringent quality concept and outstanding expertise of the Protagen AG team.

About S-VentureCapital Dortmund GmbH
Since the beginning of 2000 the S-VentureCapital Dortmund GmbH, a 100% daughter of the Sparkasse Dortmund, actively invests in the Dortmund Region, one of the fastest developing high-tech regions in Germany. S-VentureCapital Dortmund GmbH invests in young and innovative companies with high growth potential. The focus of the investments is in mikro- and nanotechnology, biotechnology and information technology (IT). With investments ranging from Euro 300.000 to 1.5 million, 13 corporations have been added to the portfolio.

About MIG AG Beteiligungsgesellschaft
The corporations "MIG AG & Co Funds 1 KG" and "MIG AG & Co. Funds 3 KG" - both located in Munich, Germany - are investing venture capital into innovative non-listed high-technology companies in return for direct shares. The MIG Funds 1 has a stock of Euro 30 Mio., MIG Funds 3 of Euro 50 Mio. MIG Funds 1 has already been closed, whereas the MIG Funds 3 is in the offer for participation. For further information around the funds and the portfolio invested please visit www.mig-fonds.de



Contact:
Dr. Christoph Hüls
CEO
Protagen AG
Otto-Hahn-Str. 15
44227 Dortmund
Germany
t: +49 (0) 231 9742 6300
f: +49 (0) 231 9742 6301
e: info@protagen.de




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