MIG takes part in €10m round for Protagen

The fresh capital will enable Protagen to bring its in vitro diagnostics development programmes in rheumatoid arthritis, systemic lupus and systemic sclerosis to market. Following completion of the deal, the company will also look to agree new partnerships with pharmaceutical and biotech companies.

Trade backer Qiagen also took part in the round alongside NRW Bank and company management. Additional investors are expected to join the round in Q3 2015.

Previous funding
MIG initially invested €3.3m in Protagen in May 2006 alongside S-VentureCapital Dortmund. The backers also both took part in a €1m round in January 2008 and another round in August that year. In May 2007, NRW Bank invested in the business alongside S-VentureCapital.

Company
Headquartered in Dortmund, Protagen is a developer of diagnostic tools for autoimmune diseases. The company has a strategic partnership with Pfizer.

People
Dr Stefan Müllner is CEO of Protagen.

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