Sangart, Inc., a San Diego, CA-based global biopharmaceutical company dedicated to developing life-saving medicines specifically designed to enhance the perfusion and oxygenation of ischemic (oxygen deprived) tissues through targeted oxygen delivery, recently received more than $50m in Series G equity funding round.
The round was led by Leucadia National Corporation, with participation from existing investors.
The company intends to use the funds to advance the development of the MP4OX product in severe traumatic hemorrhage and the MP4CO product in sickle cell disease.
MP4OX is an investigational biopharmaceutical designed to enhance the perfusion of oxygen-deprived (ischemic) tissues and provide targeted oxygen delivery in the capillaries. MP4CO is an investigational biopharmaceutical designed to deliver therapeutic levels of carbon monoxide (CO) to patients suffering from a sickle cell crisis.
The investment brings the total amount raised by Sangart since its inception in 1998 to more than $230m. The round also included warrants which, if exercised, could provide up to an additional $50m in future funding.
Led by President and CEO Brian O’Callaghan, the company operates a European office in London, UK.