Deal Announcements

Sangart Secures $50 Million For Trials

Thursday, April 05, 2007 6:30:00 AM PDT | VentureDeal Staff

SAN DIEGO, CA -- Sangart, Inc. announced the closing of its sixth round of financing, receiving $50 million from existing investors.

The company has developed technology that provides for a hemoglobin-based oxygen carrier that would be an alternative to blood transfusions.  The funding will be used to advance the company's product through phase III clinical trials in Europe, which are already enrolling candidates.

The lead investor was Leucadia National Corporation.  Total investment in the company now totals $120 million and the current round contains warrants allowing for an additional $50 million investment.

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