Proteon Therapeutics
{{Short description|American pharmaceutical company}}
{{Infobox company
| name = Proteon Therapeutics
| logo = Proteon Therapeutics logo.png
| type = Public
| traded_as = {{NASDAQ|PRTO}}
Russell Microcap Index component
| foundation =
| industry = Pharmaceuticals
| homepage = [http://www.proteontherapeutics.com/ www.proteontherapeutics.com]
}}
Proteon Therapeutics, Inc. is a developer of pharmaceuticals with offices in Waltham, Massachusetts and Kansas City, Missouri.
Proteon was founded by Dr. F. Nicholas Franano based on technology created at Johns Hopkins University. Major investors in the company include MPM Capital, Rockhill Partners, TVM Capital, Skyline Ventures, Prism VentureWorks, Vectis Life Sciences and Intersouth Partners. They have invested over $72 million in the company.{{cite news |first=Rob |last=Roberts |title=Proteon secures $12M in financing |url=http://www.bizjournals.com/kansascity/stories/2007/04/02/daily30.html |work=Kansas City Business Journal |date= April 5, 2007 |access-date=2008-07-27 }}
The company is led by Timothy Noyes, CEO; Steven Burke, CMO; George Eldridge, CFO; and Scott Toner, director of marketing.{{cite web|url=http://www.proteontherapeutics.com/about/#management |title=About |website=Proteontherapeutics.com |access-date=2017-02-28}}
On March 5, 2009, the company announced that it had raised $32 million from its existing investors plus MPM Capital and Vectis Life Sciences. Proteon also announced that it had entered into an option agreement to be acquired by Novartis for up to $550 million.{{cite news| url=http://www.boston.com/business/ticker/2009/03/proteon_raises.html | work=The Boston Globe | title=Proteon raises $38m, signs option deal with Novartis | date=March 5, 2009}} The company went public in 2014.{{cite web|url=http://ir.proteontherapeutics.com/phoenix.zhtml?c=253625&p=irol-sec&secCat01.2_rs=131&secCat01.2_rc=10 |title=SEC Filings | Proteon Therapeutics Inc |website=Ir.proteontherapeutics.com |access-date=2017-02-28}}
In September 2019, Proteon Therapeutics merged with ArTara Therapeutics.{{Cite web|url=https://www.spglobal.com/marketintelligence/en/news-insights/trending/2LklxKkgsV8tzUhArjQf8Q2|title=Proteon announces merger with ArTara Therapeutics, $42.5M stock purchase|website=www.spglobal.com|language=en-us|access-date=2020-04-17}}{{Cite web|url=https://www.pharmaceutical-technology.com/news/proteon-artara-therapeutics-merger/|title=Proteon Therapeutics to merge with ArTara Therapeutics|website=www.pharmaceutical-technology.com|date=23 September 2019 |access-date=2020-04-17}}
PRT-201
Proteon is developing PRT-201 (vonapanitase), a drug to improve blood flow following vascular surgery procedures, and, more broadly, is interested in vascular access for hemodialysis and peripheral arterial disease (PAD). PRT-201 is a recombinant human elastase{{cite web|url=http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9NjU1MjQ0fENoaWxkSUQ9MzYwNjYwfFR5cGU9MQ==&t=1 |website=Phx.corporate-ir.net |title=VONAPANITASE FOR RADIOCEPHALIC FISTULAS |access-date=2017-02-28}} manufactured for Proteon by Lonza.{{cite web|url=http://ir.proteontherapeutics.com/phoenix.zhtml?c=253625&p=irol-sec |title=SEC Filings | Proteon Therapeutics Inc |website=Ir.proteontherapeutics.com |access-date=2017-02-28}}
In September 2008, the company announced that the Food and Drug Administration had granted fast track status to PRT-201.
In December 2016, they announced that the phase III trial of PRT-201 hadn't reached its primary endpoint, causing Proteon's stock price to drop more than 75%.{{cite web|last=Lange |first=Chris |url=http://247wallst.com/healthcare-business/2016/12/13/proteon-therapeutics-craters-on-missed-late-stage-results/ |title=Proteon Therapeutics Craters on Missed Late-Stage Results (NASDAQ: PRTO) - 24/7 Wall St |publisher=24/7 Wall St. |date=2016-12-13 |access-date=2017-02-28}}
References
{{Reflist}}
- {{cite news |first=Ryan |last=McBride |title=Proteon chief pulls the GelTex band back together |url=http://www.masshightech.com/stories/2008/04/07/newscolumn2-Proteon-chief-pulls-the-GelTex-band-back-together.html |work=MHT Mass High Tech |date= April 7, 2008 |access-date=2008-07-27 }}
External links
- {{Official website|http://www.proteontherapeutics.com Proteon Therapeutics, Inc.}}
{{Pharmaceutical companies of the United States}}
Category:Pharmaceutical companies of the United States
Category:Privately held companies based in Massachusetts
Category:Health care companies based in Massachusetts
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