Intersouth Partners’ Gareth Kong is joining the board of directors at Proteon Therapeutics after Intersouth invested in additional financing.
The venture capital firm was part of a syndicate that poured $12 million in an extended Series A round for Proteon. The biopharmaceutical firm is based in Waltham, Mass., and has a research operation in Kansas City.
Proteon closed on $19 million in the first tranche of the A round in March of last year.
Other investors include Prism VentureWorks, TVM Capital and Skyline Ventures.
Proteon is developing drugs for the treatment of renal and vascular disease. The $12 million will be used to advance its lead candidate, PRT-201, into human clinical trials.
The company has received two patents for its technology to dilate veins and arteries.
As part of the financing, Proteon also hired Mark Fitzpatrick as its chief financial officer. Fitzpatrick has more than 17 years of experience in the biotech industry.
"Intersouth Partners was pleased to join the other existing investors in providing additional financing to Proteon as it advances PRT-201 toward human clinical study," Kong said in a statement.
