Healthcare Industry News: Hemodialysis Access
News Release - May 10, 2006
Proteon Therapeutics Hires Veteran Biotechnology Executive Timothy Noyes as CEO
KANSAS CITY, Mo., and BOSTON, May 10 (HSMN NewsFeed) -- Proteon Therapeutics, Inc., a biotechnology company developing therapeutics to dilate human veins and arteries for use in vascular surgery and angioplasty, announced today that veteran biotechnology leader Timothy P. Noyes has joined the company as its President & Chief Executive Officer. This appointment follows the company's announcement in April that it had raised $19 million in a Series A venture capital round from TVM Capital, Skyline Ventures, Prism Venture Partners, and Intersouth Partners. Mr. Noyes will be temporarily based out of TVM Capital's Boston office, and the company's Kansas City R&D facilities."I am thrilled that Tim has joined Proteon," said Dr. Nicholas Franano, Founder and former CEO, who will remain with the company as Chief Science Officer. "He brings a wealth of knowledge and experience in drug development and bringing products to market. The combination of Tim's seasoned leadership, our outstanding science and products, and the experienced life sciences investors who have backed the company has positioned Proteon for tremendous growth."
Mr. Noyes was most recently Chief Operating Officer of Trine Pharmaceuticals, where he had broad general management responsibility across all functional areas relating to drug development, including preclinical, clinical, manufacturing, regulatory, and marketing and business development.
Prior to joining Trine in 2002, he held several management and leadership roles with GelTex Pharmaceuticals, prior to its acquisition by Genzyme Corporation. After the acquisition, he held the position of President, Renal Division and GelTex Pharmaceuticals. He also worked for many years with Merck & Co across multiple roles in its hypertension and heart failure group, managed care division, and on its Vasotec and Prilosec products. Mr. Noyes is a graduate of Harvard College, and holds a master's in business administration from the Harvard Business School. He also serves on the Board of Directors of Iconix Pharmaceuticals.
"I am excited to be working with Nick, the Board, and the rest of the Proteon team to continue to develop PRT-201, which is a very interesting and important product," said Noyes. "We will be building out our management team to accelerate the development of PRT-201, and simultaneously seek to broaden the product pipeline through both internal R&D efforts and in-licensing."
About Proteon Therapeutics
Proteon Therapeutics is a biopharmaceutical company developing PRT-201, a novel human recombinant protein that permanently dilates segments of blood vessels, blocks vasospasm, and reduces the formation of vascular scarring. This unique combination of features is crucial for improving both the immediate and long-term success of Hemodialysis Access, bypass graft, and angioplasty procedures. The company's venture capital investors include TVM Capital ( http://www.tvm-capital.com ), Skyline Ventures ( http://www.skylineventures.com ), Prism Venture Partners ( http://www.prismventure.com ) and Intersouth Partners ( http://www.intersouth.com ). For more information about Proteon, visit http://www.proteontherapeutics.com .
Source: Proteon Therapeutics
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