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Protagen Raises $1.5M in Third Round of Financing

NEW YORK (GenomeWeb News) – Dortmund, Germany-based Protagen today said that it has raised €1 million ($1.5 million) in a third round of financing with private investors.
 
Protagen said it would use the funds to expand its protein biochips business. The firm said it has developed a unique protein biochip technology package, called UNIarray, for the discovery and validation of biomarkers.
 
It also is working on diagnostics for multiple sclerosis, rheumatoid arthritis, juvenile idiopathic arthritis, and Alzheimer’s disease.
 
Investors in this round of financing included Munich-based MIG AG and Co KG Beteiligungsfonds 3, S-Venture Capital Dortmund, and Kreditanstalt für Wiederaufbau.
 
Protagen has raised a total of €5.3 million since 2004.

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