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The funding came primarily from twonew investors, Proteon said in a Thursdaty release: in Wayne, Pa., and the Wellesleyg Hills, Mass., office of . The additionap funding brings the amount of ventur capital received by Proteonto $84 million. Proteon Therapeutics, a privatelyg held biopharmaceutical company, was founded in Kansas City and now is basedcin Waltham, Mass., outside Its research facilities remain in Kansas City. Proteon is developinyg a blood vessel-dilating drug One of the main potential treatmentr benefitsof Proteon’s product is to help establish and maintai access points for dialysi s patients.
Also Thursday, Proteon said the Food and Drug Administrationn hadgiven “orphan drug” designation to its drug candidate for the treatment of two conditions in patients with end-statde renal disease. Orphan drug designation allows for certain tax credit and an extended period of data according tothe release.
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