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Proteostasis Pulls In $45 Million Venture Capital

Tuesday, August 26, 2008 5:43:00 AM PDT | VentureDeal Staff

Cambridge, Massachusetts --  Biotechnology company Proteostasis Therapeutics announced that it has raised $45 million in its first institutional venture capital financing round.

Proteostasis is developing small molecule therapeutics to help control the body's natural protein homeostasis processes that are involved with disorders such as emphysema, type II diabetes, Alzheimer's disease and Huntington's disease.

Investors in the round included Healthcare Ventures, Fidelity Biosciences, New Enterprise Associates, Novartis BioVenture Fund and Genzyme Ventures.  Proceeds will be used to develop the company's pipeline of drug candidates.

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