The biotechnology company, now based in Waltham, Mass., intends to go public as soon as possible to finance ongoing clinical trials of its premier product, a drug designed to improve success rates with kidney dialysis patients.
The company has raised about $120 million from private investors since Nicholas Franano and co-founders started in 2006. The giant drug company Novartis earlier this year elected not to pursue an option to buy Proteon or license its products.
Proteon would trade on the Nasdaq under the symbol PRTO. The preliminary prospectus didn’t include an initial public offering price.
Never miss a local story.
There is a 30-day option for underwriters to purchase additional shares. Underwriters are Stifel, Nicolaus & Co.; JMP Securities; Robert W. Baird; and Oppenheimer & Co.
| Diane Stafford, firstname.lastname@example.org