Sangart, a privately-held biopharmaceutical company focused on the research, development and commercialization of oxygen therapeutics, has received approximately USD50m in funding from
Sangart, a privately-held biopharmaceutical company focused on the research, development and commercialization of oxygen therapeutics, has received approximately USD50m in funding from existing investors.
The investment results from the exercise of warrants issued by Sangart as part of a Series F financing round initiated in 2007. The most recent investment brings the total funding under the Series F round to approximately USD100m. Proceeds from the warrant exercise will be used to fund further clinical development of Sangart’s MP4 oxygen therapeutic products.
‘We are excited to see this continued support from our investors and believe it demonstrates the potential of our products,’ says Brian O’Callaghan, president and chief executive of Sangart. ‘This funding contributes significantly to our efforts to further the clinical research and development of our MP4 oxygen therapeutic products.’
The MP4 molecule is the basis for Sangart’s oxygen therapeutic product platform. The MP4 molecule is created using unique polyethylene glycol conjugation with human haemoglobin and was specifically designed to the optimal molecular size, viscosity, oxygen affinity and diffusion potential to target oxygen delivery to tissues at risk of oxygen deprivation based on experiments with artificial capillaries and in several different animal models.
Research and testing demonstrates that this approach optimises oxygen delivery while minimising the side effects that plagued earlier generation products.
