Projo Biz Blog

ProThera Biologics, Inc., a biomedical startup in East Providence, has been granted $500,000 in equity funding by the Slater Technology Fund, the state-backed venture capital fund that invests in new companies.

ProThera, co-founded in 2001 by Yow-Pin Lim, and Douglas C. Hixson, research scientists affiliated with Brown Medical School, is developing inter-alpha inhibitor proteins for the treatment of inflammatory diseases, including sepsis, cancer and anthrax intoxication.

In connection with the Slater investment, ProThera has hired Richard A. Andrews as an advisor to assist the company in its corporate and business development. Andrews was a co-founder of RenaMed Biologics (formerly Nephros Therapeutics), a developer of renal cell replacement therapies originally based in Lincoln.
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Starting with an initial research grant of $100,000 from the Slater Technology Fund in 2001, ProThera has been awarded in excess of $3.5 million in grant funding from four different institutes of the National Institutes of Health.

Comments

Coming soon near you: anthrax intoxication said:

With all of the recent concerns about MRSA, why would the state encourage a research lab which tinkers with sepsis and anthrax, to settle into a densely populated community like East Providence? Shouldn't the state encourage this sort of work to be performed in a rural area with a lesser chance of biomedical accidents spreading to like wildfire?

Link | June 25, 2008 7:30 AM
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