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Pronota Raises $1.9M in Series B Financing

NEW YORK (GenomeWeb News) – Belgian biomarker company Pronota said today that it has raised an additional €1.3 million ($1.9 million) in Series B financing from MP Healthcare Venture Management.

Pronota plans to use the funding from the venture company, which is a jointly owned subsidiary of Mitsubishi Tanabe Pharma and Mitsubishi Chemical Holdings, to develop its lead program in acute heart failure diagnostics toward full clinical proof of concept.

The firm said that results so far for its acute heart failure and other protein-based biomarker programs have validated its technology, and it expects to have its first product ready to roll out in early 2012.

This past summer, Pronota had raised €4.9 million in the Series B financing. Earlier participants in the round included LSP, Gimv, Biotech Fund Flanders, KBC Private Equity, Johnson & Johnson Development, and Baekeland Fund. Another investor, VIB, is a non-profit scientific research institute that developed the technology upon which Pronota's MASStermind platform is based.

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