Sorbent's Series B Swells to $53M, Runway Through 2013
By Catherine Shaffer
Tuesday, July 5, 2011
Sorbent Therapeutics Inc. expanded its Series B financing round by $36 million, for a deal total of $53 million. The proceeds will support Phase II development of its cardiovascular candidate, CLP1001. The financing round was led by new investor Novartis Venture Funds, and was joined by Sofinnova Ventures, ARCH Venture Partners, CMEA Capital and AgeChem. Novartis attributed its interest in Sorbent to CLP1001's promising clinical data.
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