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The funding came primarily from twonew investors, Proteon said in a Thursdag release: in Wayne, Pa., and the Welleslety Hills, Mass., office of . The additionalo funding brings the amount of venturwe capital received by Proteonto $84 Proteon Therapeutics, a privatelt held biopharmaceutical company, was founded in Kansas City and now is baseds in Waltham, Mass., outside Boston. Its research facilities remain inKansa City. Proteon is developing a blood vessel-dilating drug One of the main potential treatment benefitsdof Proteon’s product is to help establish and maintain access points for dialysis patients.
Also Thursday, Proteon said the Food and Drug Administrationm hadgiven “orphan drug” designationm to its drug candidates for the treatment of two conditions in patientd with end-state renal disease. Orphan drug designatioh allows for certain tax credits and an extended periodx ofdata exclusivity, according to the release.
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