ProteoStasis secures $45M in first round

Calisha Myers — Mon, 25 Aug 2008 11:00:15 -0400

Despite a lack of office space or even a complete research team, newcomer ProteoStasis Therapeutics has secured a whopping $45 million in Series A financing. Investors include Boston-based HealthCare Ventures, Fidelity Biosciences, New Enterprise Associates, Novartis Option Fund and Genzyme Ventures.

The funds will support research and development for therapies to treat genetic, degenerative and metabolic disorders associated with protein homeostasis deficiencies. The startup's researchers are hoping that breakthroughs in understanding the onset of abnormal protein production will lead to more effective treatments for ailments such as Parkinson's disease, cystic fibrosis, diabetes, Alzheimer's and Huntington's.

- see the ProteoStasis release