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Proteon Therapeutics Lands $38 Million Venture Capital

Friday, March 06, 2009 5:35:00 AM PDT | VentureDeal Staff

Waltham, Massachusetts  --  Biotechnology company Proteon Therapeutics has raised $38 million in its series B round of venture capital financing.

Proteon is developing a human recombinant protein that it claims permanently dilates segments of blood vessels, blocks vasospasm and reduces the formation of vascular scarring.

MPM Capital led the round, which included TVM Capital, Skyline Ventures, Prism VentureWorks and Intersouth Partners. The company did not disclose how it could use the investment proceeds.

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