Proteo develops and markets compounds for biological and medical research applications. The company s products are used for the pharmaceutical industry. It holds the production and utilization rights for a recombinant human elastase inhibitor, Elafin. The company operates a wholly owned subsidiary, Proteo Biotech, which was founded in 2000. The subsidiary focuses on the development of anti-inflammatory drugs. Proteo Biotech operates a network of research institutions and hospitals in Europe and the United States. The subsidiary s products are used for the treatment of arterial and chronic thromboembolic pulmonary hypertension. Proteo Biotech has received an orphan drug status from the European Commission.