Sagent Pharmaceuticals, a Schaumburg, IL-based pharmaceutical company focused on developing, manufacturing, sourcing and marketing pharmaceutical injectable products, has raised $40m through two tranches of a strategic Series B financing.
In this round, a $10m investment was made by Zhejiang Hisun Pharmaceutical Co. Ltd. (Hisun), and the remaining $30m was provided by an undisclosed China-focused private equity investment fund.
To date, including this financing, Sagent has raised $153m in equity capital.
Commenting on the round, Jeffrey M. Yordon, Sagent’s chief executive officer, founder and chairman of the board, was quoted as saying: “We believe that these investments speak to the successful execution of our business model, enrich the Company’s strategic partnerships, and extend Sagent’s access to additional products and facilities.
“Sagent has gained expanded access to Hisun’s extensive portfolio of active pharmaceutical ingredients and, shortly, to its finished injectable product capabilities.
“In addition, Sagent’s reach into China will be extended through the Chinese investment fund’s strong relationships in the rapidly maturing injectable marketplace in that region”.