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. 



Suggested Articles

The data, from two patients with severe blood disorders, are "promising” for what could be a one-and-done treatment, Cantor Fitzgerald analysts wrote.

The fund will back pharma companies as well as developers of medtech products and providers of outsourced services.

The money will fund work to develop polymers in multiple indications and an associated U.S. expansion.