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Proteon Therapeutics Announces the Closing of Initial Public Offering and the Underwriters' Option to Purchase Additional Shares

WALTHAM, Mass., Nov. 24, 2014 (GLOBE NEWSWIRE) -- Proteon Therapeutics Inc. (Nasdaq:PRTO), a company developing novel, first-in-class pharmaceuticals to address the medical needs of patients with kidney and vascular diseases, today announced the previous closing of its initial public offering of 6,110,000 shares of its common stock at an initial public offering price of $10.00 per share, which closed on October 27, 2014. The Company has also announced the closing of the exercise by the underwriters of their option to purchase 916,500 additional shares of common stock at an initial public offering price of $10.00 per share, which closed on November 21, 2014. All of the shares of common stock were offered by Proteon. The company's common stock is listed on the NASDAQ Global Market under the trading symbol "PRTO." The gross proceeds of the offering, including from the exercise of the underwriters' option, are $70.3 million, before deducting underwriting discounts and commissions and estimated offering expenses.

Stifel and JMP Securities acted as joint book-running managers for the offering, and Baird and Oppenheimer & Co. acted as co-managers for the offering.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on October 21, 2014. The offering was made only by means of a prospectus, copies of which may be obtained by contacting Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA 94104, telephone: (415) 364-2720, email: syndprospectus@stifel.com or JMP Securities LLC, Attention: Prospectus Department, 600 Montgomery Street, 10th Floor, San Francisco, CA 94111, telephone: (415) 835-8985.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Proteon Therapeutics

Proteon Therapeutics Inc. is developing novel, first-in-class pharmaceuticals to address the medical needs of patients with kidney and vascular diseases. The company is headquartered in Waltham, Mass.

Investor Contact
George Eldridge, Senior Vice President and Chief Financial Officer
781-890-0102
geldridge@proteontherapeutics.com
 
Press Contact
Chris Erdman or Lynnea Olivarez, MacDougall Biomedical Communications
781-235-3060
proteon@macbiocom.com