16.05.2014 To Initiate Phase III Trial of PRT-201 for Reduction of AVF Failure in Hemodialysis. Moscow – May 16, 2014
– Inbio ventures, a management company representing Pharmstandard International S.A., has participated, along with top-tier VC firms, in the Series D financing for Proteon Therapeutics Inc., operating in Waltham, MA, USA.
Proteon Therapeutics Inc., a privately held biopharmaceutical company, is developing novel, first-in-class pharmaceuticals to address the critical medical needs of patients with kidney and vascular diseases. Proteon's lead product, PRT-201, is a recombinant human elastase in development to prolong the patency and reduce the failure of hemodialysis vascular access in patients with chronic kidney disease (CKD). The $45 million Series D equity financing structured in tranches, is aimed at funding the Phase 3 study, which will evaluate PRT-201 in patients undergoing surgical placement of an arteriovenous fistula (AVF), the optimal form of vascular access for hemodialysis patients.
The financing was led by Abingworth LLP, with participation by Deerfield Management Company and Pharmstandard International S.A./Inbio Ventures. In addition, the financing included existing investors TVM Capital, Prism VentureWorks, Skyline Ventures, Intersouth Partners, MPM Capital, Devon Park Bioventures, Bessemer Venture Partners, and the Vectis Healthcare and Life Sciences Fund. About PRT-201
PRT-201 is an investigational recombinant human elastase that is being studied for its ability to improve outcomes in patients suffering from vascular disease. Elastase has been shown to reduce neointimal hyperplasia formation and to cause dilation of segments of arteries and veins. These effects may result in improved blood flow and prolonged vessel patency. PRT-201 has received fast track and orphan drug designations from the FDA and orphan medicinal product designation from the European Commission for hemodialysis vascular access indications. About Proteon Therapeutics
Proteon Therapeutics Inc. is a privately held biopharmaceutical company developing novel, first-in-class pharmaceuticals to address the critical medical needs of patients with kidney and vascular diseases. For additional information, please visit www.proteontherapeutics.com
. About Abingworth LLP
Abingworth is an international investment group dedicated exclusively to the life sciences and health care sectors. Founded in 1973, Abingworth has a lengthy track record of building market-leading companies. The firm invests across all stages of company development, including early- and late-stage private deals, VIPEs and public companies. Abingworth has funds under management of over $1.25 billion and offices in London, Menlo Park, and Boston. www.abingworth.com About Deerfield Management Company
Deerfield is an investment management firm, committed to advancing health care through investment, information and philanthropy. For more information about Deerfield, please visit www.deerfield.com
. About Pharmstandard International S.A./Inbio Ventures
Pharmstandard International S.A. – a holding company fully committed by OJSC Pharmstandard (LSE:PHST) – is a venture investments fund focused on innovative drugs/therapies with strong potential at global markets and in Russia. Inbio Ventures is a management company representing Pharmstandard International, S.A., and providing professional support in venture transactions. For more information, please visit www.pharmstd-ventures.com