Protagen AG, a Dortmund, Germany-based specialist in the development of novel diagnostic tests and companion diagnostics in the autoimmune field, closed a new financing round.
This was the first closing of a round with a total volume of €10m. The second closing with additional new investors is planned for the third quarter of 2015.
Backers included QIAGEN N.V., and existing investors MIG Fonds Munich, NRW.BANK, Düsseldorf, and Protagen Management.
Led by Dr. Stefan Müllner, CEO, Protagen uses its proprietary SeroTag biomarker platform to identify disease specific autoantibodies and provide autoimmune diagnostic products, specifically targeting diseases with an unmet need for effective diagnostics.
The company intends to use the funds to complete and commercialize its current IVD development programs in Rheumatoid Arthritis, Systemic Lupus, and Systemic Sclerosis.