Image removed.Sangart

Based: San Diego
Raised: $50 million
Investors: Leucadia National

The scoop: Sangart reaped $50 million in equity funding from its existing investor, Leucadia National, boosting its total funding raised to more than $280 million. The latest round, which was finalized in May, provides fuel for the development of the San Diego-based biotech's drugs, which deliver "essential gases to embattled tissues." The fresh infusion arrived after an independent committee gave its thumb's up for investigators to pursue an ongoing mid-stage trial of MP4OX, designed to treat tissues threatened with ischemia following hemorrhagic shock. "We continue to see promise in our unique MP4 gas-delivery platform, focused on developing therapies for patients in crisis who are experiencing ischemia and organ dysfunction as a result of hemorrhagic shock injury or a vaso-occlusive crisis associated with sickle cell disease," Sangart CEO Brian O'Callaghan said last May. 

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