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news.Germany-based Protagen, developer of novel diagnostic tests in autoimmune diseases, has sold its wholly-owned subsidiary Protagen Protein Services (PPS) to Zukunftsfond Heilbronn.
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The company has been continuing the business of the former operational division Protein Services, specialized in the GMP-compliant protein analytics, since January 2012.
Protagen CEO Dr Stefan Müllner said a sustainable growth for PPS is ensured with the sale to a potent investor.
"On the other hand, the capital injection generated by this transaction is a solid mid-term financing opportunity for the Protagen strategy in the area of novel diagnostics, i.e. Dx and CDx, and enables to start the development of own products for this growing market immediately," Mullner added.
Protagen focuses its assay development programs on disease specific autoantibodies.