Sangart garners $50M in VC

San Diego-based Sangart has raised $50 million in its sixth round, which includes warrants for up to $50 million more. Leucadia National Corporation led the round. The money will be used to advance two large-scale Phase III clinical trials of Sangart's lead product candidate, Hemospan, a hemoglobin-based oxygen carrier designed to serve as an alternative to blood transfusions. The trials, which began enrolling last month, are designed to gauge the ability of Hemospan to prevent and treat hemodynamic instability, especially hypotension, or low blood pressure, during orthopedic surgery and will include more than 800 patients.

- see this release on the round

ALSO: Protemix has raised $14.5 million in the first close of its first round of venture capital. Novartis Venture Fund and NovaQuest co-led the round. "This successful financing underscores the value of Protemix's technology and product candidates for the treatment of cardiovascular disease, diabetes and related metabolic disorders," said Larry Ellingson, chairman of Protemix. Release