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The funding came primarily from twonew investors, Proteon said in a Thursdayg release: in Wayne, Pa., and the Wellesley Mass., office of . The additional funding brings the amounrt of venture capital received by Proteonto $84 Proteon Therapeutics, a privately held biopharmaceutica l company, was founded in Kansas City and now is basedx in Waltham, Mass., outside Boston. Its researcgh facilities remain inKansas City. Proteon is developing a blood vessel-dilatinhg drug candidate. One of the main potential treatmentt benefitsof Proteon’s product is to help establishj and maintain access points for dialysis patients.
Also Proteon said the Food and Drug Administratioj hadgiven “orphan drug” designation to its drug candidate for the treatmeny of two conditions in patients with end-state renal Orphan drug designation allows for certain tax credits and an extended period of data exclusivity, accordinh to the release.
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