Pronota NV announced that it has raised an additional EUR 1.5 million in the final close of its Series B financing. The financing has been subscribed by MedSciences Capital, the venture capital arm of Kempen & Co, which is a specialized Dutch merchant bank. Pronota has raised a total of EUR 7.9 million in its Series B round, which has been subscribed by premier life sciences investors such as Gimv, Biotech Fund Flanders, LSP, JJDC, KBC Private Equity, VIB, MP Healthcare Venture Management Inc., Baekeland Fund and MedSciences Capital. Pronota is using the proceeds of the Series B financing to push forward its diagnostic development programs in the cardio-renal area, pre-eclampsia, sepsis, and ovarian cancer.
The results obtained so far in its cardio-renal and other programs provide validation of Pronota's technology. Pronota now addresses a range of significant commercial opportunities, and is aiming to have its first product ready for launch in 2012.