Protagen AG, a specialist in in vitro diagnostics and protein analysis, has announced a second round of a funding round that now totals €10 million. NRW.BANK, Düsseldorf, participated as new investor and joined the consortium of MIG Fonds, Munich, S-Capital Dortmund, S-Venture Capital Dortmund and KfW, Bonn, to close the actual round.
The capital will be used for the expansion of the Dortmund-based company’s Diagnostics unit and the clinical validation of proprietary diagnostic marker proteins.
Protagen will concentrate on the development of serum-based molecular diagnostics for the early detection of multiple sclerosis and the differential diagnosis of prostate cancer. In addition, the company’s UNIarray technology platform will be applied to develop further diagnostics.
“This new financing round will allow us to complete our current development programmes to the point of market launch and to evolve to become a preferred partner for out-licensing opportunities within the diagnostic industry,” said Stefan Müllner, CEO.