Sangart raises $50 million
This article was originally published in Scrip
Executive Summary
Sangart has secured $50 million from investors in a series F financing round. The US company will use the proceeds to further the clinical development of its MP4 oxygen therapeutics pipeline. The privately held firm's lead candidate MP4OX combines a unique polyethylene glycol conjugation with human haemoglobin. The candidate is designed with optimal molecular size, viscosity, oxygen affinity and diffusion potential to target tissues with oxygen deprivation in artificial capillaries and animal models. The latest investment brings the total amount invested in the series F round to $100 million.
You may also be interested in...
AB Science lists on Euronext after reducing offer size
AB Science has closed its IPO at just half of the value of its initial expectations. The gross proceeds of the French firm's offer were €27.5 million, compared with the €55.5 million it anticipated when it filed for the offering on 8 April. Of the total, the company secured $16.5 million from the sale of newly issued shares; the remaining €11 million went to selling shareholders.
Amgen posts strong first-quarter sales but healthcare reform set to bite
Amgen's sales rebounded in the first quarter rising 9% to $3.6 billion after a disappointing end to last year. However, the introduction of new legislation for US healthcare has weighed on its forecast for the year, as it has done for many of its competitors.
Tracleer drives growth for Actelion
Actelion's total revenues leapt up by 24% to CHF502 million ($467 million) during the first quarter due to stronger demand for its pharmaceuticals. The firm's net income rose by 30% to CHF133 million, while its diluted EPS increased from CHF0.83 in the first quarter last year to CHF1.09.