Proteros Announces Successful Close of Financing Round
News Aug 07, 2012
Proteros biostructures GmbH has announced that it had successfully closed a financing round of five million Euros to fund the continued expansion and growth of the company.
The financing round was led by BayBG, a key equity investor for Proteros.
The financing round is the third and largest investment into the firm since the inception of Proteros.
Two new financial institutions were part of a consortium alongside of BayBG.
The proceeds will be used to support the development of the company, with a particular focus on investment into Proteros’ further downstream drug discovery capabilities.
Moreover, the financing will strengthen the Company’s equity capital base and reduce its current overall financing and debt servicing costs.
In tandem with the financing, Proteros announced it will re-align the Company’s organization and expand the integrated drug discovery services business.
Prominent in these measures will be the deployment of further medicinal chemistry staff that will assist in growing the Company’s drug discovery capabilities, which are being expanded in response to market demand.
Proteros’ world-class core analytical services capabilities, including X-Ray crystallography, kinetic/thermodynamic profiling and custom protein supply, will continue to form the basis for future development.
Dr. Torsten Neuefeind, Chief Executive Officer and founder of Proteros, stated:”We are happy to have closed our third, and to-date, largest-ever financing round. Additionally we are also very pleased to welcome two new financing partners in this financing round, as well as to receive the strong continued support of BayBG. With the Company’s strong partnerships associated with its analytics business, Proteros is ideally positioned to make the next step into drug discovery applications.”