Protagen AG Sells Service Business
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|Tuesday, 02 July 2013 13:15 (UTC + 2)|
Dortmund, Germany, July 2, 2013 / B3C newswire / - Protagen AG, Dortmund, divested its 100% subsidiary Protagen Protein Services GmbH (PPS), to Zukunftsfond Heilbronn. The company was spun out in January 2012 and continued the business of the former operational division Protein Services, which accumulated unique expertise in the GMP-compliant protein analytics over the years.
“The sale of this profitable service business to a potent investor with complementary portfolio companies secures a sustainable growth for PPS, an internationally renowned specialist for protein characterization and biosimilar comparability. 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. With this step, Protagen positions itself as highly attractive target for new VC investors”, states Dr. Stefan Müllner, CEO.