Healthcare Industry News: Sagent Pharmaceuticals
News Release - September 4, 2008
Sagent Completes $30 Million Series A Financing ExtensionSCHAUMBURG, Ill., Sept. 4 (HSMN NewsFeed) -- Sagent Pharmaceuticals, Inc., a privately-held specialty pharmaceutical company today announced the closing of a $30 million extension of last year's $53 million Series A financing, led by Vivo Ventures. Proceeds from the financing will be used to fund near-term product launches, product development activities and strategic business initiatives.
"This additional financing round will allow us to advance additional products to market and to avail ourselves of compelling, recently discovered product acquisition opportunities," said Jeffrey M. Yordon, CEO, founder and chairman of the board of Sagent Pharmaceuticals. "We appreciate the continued commitment our investors have demonstrated to Sagent through this financing."
About Sagent Pharmaceuticals, Inc.
Sagent Pharmaceuticals, founded in 2006, is a privately held specialty pharmaceutical company focused on developing, manufacturing, sourcing and marketing pharmaceutical products, with a specific emphasis on injectable products. Sagent has created a unique, global network of resources, comprised of rapid development capabilities, sophisticated manufacturing and innovative drug-delivery technologies, quickly yielding an extensive portfolio of pharmaceutical products that fulfills the evolving needs of patients. Sagent currently has more than 200 products in development.
To Discover Injectables Excellence(TM) and learn more about Sagent, please visit http://www.SagentPharma.com.
About Vivo Ventures
Vivo Ventures is a life-sciences focused venture capital firm with more than $650 million under management. Vivo Ventures is currently making investments from its sixth fund of $275 million into promising biotechnology and life science companies.
With more than 90 years of scientific and operational expertise in biotechnology, Vivo helps its portfolio companies develop corporate strategy, arrange licensing agreements and strategic alliances, recruit key management personnel and acquire new products and technology to accelerate growth. Its current portfolio includes more than 60 private and public biotechnology companies in the areas of biopharmaceuticals, specialty pharmaceuticals and medical devices.
Source: Sagent Pharmaceuticals
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