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Protagen Completes $5.3M Funding Round

NEW YORK (GenomeWeb News) – Protagen has received €3.7 million ($5.3 million) in funding from existing institutional European investors, the company said today.

The company plans to use the funding to expand its UNIarray technology and patent position and to clinically validate proprietary diagnostic marker proteins. These efforts will focus on developing serum-based molecular diagnostic tests for early detection of multiple sclerosis and for differential diagnosis of prostate cancer.

The investors involved in this funding round include MIG AG, S-Capital Dortmund, and Kreditanstalt für Wiederaufbau.

The company has protein research operations in Dortmund, Germany, and in Chester, NJ.

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