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Sorbent Therapeutics Absorbs $36 Million New VC

Friday, July 01, 2011 5:37:00 AM PDT | VentureDeal Staff

   Sunnyvale, California  --  Biotechnology company Sorbent Therapeutics has secured $36 million in its second round of institutional venture capital financing.

Sorbent is developing "adaptable non-absorbed polymeric drugs" to treat congestive heart failure and other serious conditions.

Novartis Venture Fund led the round, which included previous investors Sofinnova Ventures, ARCH Venture Partners, CMEA Capital and AgeChem Venture Fund.

The company said it would use the financing to complete phase 2 trials for its lead candidate for heart failure, CLP1001.

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