SAN DIEGO, July 22, 2015 (GLOBE NEWSWIRE) -- Square 1 Bank, the premier banking partner to entrepreneurs and the venture capital community, today announced that it has provided a credit facility to new client Protein Technologies, Inc., a leading provider of peptide synthesis instruments. Proceeds from the facility combined with an equity investment from Ampersand Capital Partners will be used to expand operations and meet increased global demand.
Peptides are naturally occurring molecules that direct cellular function within the human body. Synthetic peptides are being developed to treat patients suffering from illnesses such as cancer and metabolic diseases. Advances in the development of complex peptides with better efficacy and bioavailability profiles are driving significant increases in peptide-focused R&D spending worldwide.
"Protein Technologies' has a longstanding history of providing high quality instruments to the peptide research community, exemplified by the newly launched Prelude® X peptide synthesizer with rapid heating," said Nate Cosper, president and chief executive officer of Protein Technologies. "This partnership with Square 1 will further enable the company to develop innovative new products and enhance the level of service we provide to our global customer base."
Scott Foote, senior vice president in Square 1's life sciences practice added, "We are pleased to provide financing to support Protein Technologies' ability to develop new technologies as the company continues to solidify its position as a market leader in the peptide industry. We look forward to building our new partnership with Protein Technologies while also expanding our relationship with key investor Ampersand Capital Partners."
In a recent press release, Ampersand general partner David Parker added, "Protein Technologies is the recognized leader in a segment of the life sciences instrument market that is experiencing strong demand based on worldwide research interest in novel, peptide-based therapies. Ampersand is partnering with the Protein Technologies team to further advance the Company's innovative instrument and reagent solutions for the global peptide community."
About Square 1 Bank
Square 1 Bank is a full service commercial bank dedicated exclusively to serving the financial needs of the venture capital community and entrepreneurs in all stages of growth and expansion. Square 1's expertise, focus and strong capital base provide flexible resources and unmatched support to meet our clients' needs. Square 1 has offices coast-to-coast in Austin, the Bay Area, Boston, Chicago, Denver, Durham, Los Angeles, Minneapolis, New York, San Diego, Seattle and Washington, DC. For more information, visit www.square1bank.com.
About Protein Technologies, Inc.
Founded in 1985, Protein Technologies, Inc. designs, manufactures and supplies peptide synthesizers and reagents to academic and commercial researchers at leading universities, biotechnology and pharmaceutical companies. Based in Tucson, Arizona, Protein Technologies is committed to delivering quality products and uncompromised customer service built on reliability and trust. As market demand for peptide therapeutics increases, Protein Technologies continues to evolve to consistently deliver innovative technologies that improve the efficiency of drug discovery. To learn more about Protein Technologies, please visit www.ptipep.com.
About Ampersand Capital Partners
Ampersand is a middle market private equity firm with a focus on growth equity investments in the healthcare sector. Over the past two decades, Ampersand has managed $1 billion in private equity partnerships. Ampersand leverages its unique blend of private equity and operating experience to build value and drive superior long-term performance alongside its portfolio company management teams. Additional information about Ampersand is available at www.ampersandcapital.com.
Prelude is a registered trademark of Protein Technologies, Inc.