Sorbent Therapeutics Secures $21,800,000 Series B Funding

Feed Type
Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=2c8bb69b-2b90-4352-8095-96a52399a5ee&Preview=1
Date
9/13/2010
Company Name
Sorbent Therapeutics
Mailing Address
750 East Bunker Court Vernon Hills, IL 60061
Company Description
Sorbent Therapeutics is a biopharmaceutical company focused on the development of adaptable non-absorbed polymeric drugs to satisfy unmet clinical needs in large markets such as End Stage Renal Disease (ESRD), Congestive Heart Failure (CHF), Chronic Kidney Disease (CKD), and Hypertension.
Website
http://www.sorbentrx.com
Transaction Type
Venture Equity
Transaction Amount
$21,800,000
Transaction Round
Series B
Proceeds Purposes
Sorbent will use the capital to advance the clinical development of its lead drug candidate CLP-1001 for patients with sodium and fluid overload or risk for hyperkalemia in renal and cardiovascular diseases, such as End Stage Renal Disease and Congestive Heart Failure.
M&A Terms
Venture Investor
AgeChem Venture Fund
Venture Investor
CMEA Ventures
Venture Investor
Sofinnova Ventures
Venture Investor
Dow Venture Capital
Venture Investor
ARCH Venture Partners