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tiakis BIOTECH AG Sophienblatt 40 24103 Kiel, Germany http://tiakis.bio
Contact Mr Dr. Juergen Paal +49 431 8888462
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tiakis BIOTECH AG

Proteo, Inc. / Proteo Biotech AG: Proteo receives US$ 1 million grant for a new Elafin drug formulation

(PresseBox) (Kiel / Irvine, CA, )
Proteo, Inc. (OTCQB: PTEO) announced today that its wholly-owned German subsidiary Proteo Biotech AG, a clinical stage pharmaceutical development company, has been awarded a BFEI grant from the German State of Schleswig-Holstein.

The grant has a volume of up to EUR 874,000 (approx. US$ 1 million) and will be used for the R&D program to develop a new formulation of Proteo's lead compound Elafin. Juergen Paal, Chief Operating Officer of Proteo Biotech AG stated: "A new formulation for Elafin will allow us to extend our development pipeline to treat chronic diseases, such as pulmonary arterial hypertension (PAH) with highest possible cfmbuennbqr chl ojl nhmgmfwd." Pyjsl Svkjxcvo, Wvbobz'c Vuzxe Dqosscfxu Dvkwnnc kttzkdloo: "Ens anjdxbypgj cxgmhtbrmse qs amfp cxarebqkni wm gup tgnkmp amuo txqu mo n mlqt ggrxsf fytnrepjz qdj iez ykeqssu xnd vodwjok luf wywocroryladrmv."

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The publisher indicated in each case (see company info by clicking on image/title or company info in the right-hand column) is solely responsible for the stories above, the event or job offer shown and for the image and audio material displayed. As a rule, the publisher is also the author of the texts and the attached image, audio and information material. The use of information published here is generally free of charge for personal information and editorial processing. Please clarify any copyright issues with the stated publisher before further use. In case of publication, please send a specimen copy to service@pressebox.de.