Vital Therapies closes $28.1m round:
This article was originally published in Clinica
Manufacturer of the ELAD (extracorporeal liver assist device) artificial liver Vital Therapies (VTI) has completed a $28.1m series C financing round. The round, which was led by Versant Ventures, will support the San Diego, California-based company's development of what it claims to be the world's only human cell-based artificial liver. The firm is preparing to file for marketing approval of ELAD in China, and advance its US clinical programme of the product. The financing included the participation of new investors Delphi Ventures, HBM BioMed China and DFJ DragonFund China, and existing shareholders MedVenture Associates, Valley Ventures, Toucan Capital and Heights Capital. The financing sees Versant Ventures' Dr Ross Jaffe join the VTI board of directors.