Technology

Biotechnology company Proteon Therapeutics wants to go public

Nicholas Franano helped co-found Proteon Therapeutics in the Kansas City area in 2006.
Nicholas Franano helped co-found Proteon Therapeutics in the Kansas City area in 2006. The Kansas City Star

Proteon Therapeutics Inc., a company founded in the Kansas City area, has filed an initial public offering registration statement with the Securities and Exchange Commission.

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.

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, stafford@kcstar.com

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