Sangart has recently made known some great news. The company has acquired more than $50 million in Series G equity funding, giving them a total funding to date of over $230 million.
The most recent round was led by Leucadia National Corporation.
Their CEO Brian O’Callaghan shares some more information about the company in this recent e-interview with Lead411:
What percentage of your marketing budget are spent on the following?
Because Sangart is still in the clinical stage (specifically, Phase 2), we do not spend a significant amount on direct to costumer or consumer outreach at this time.
A. Advertising –
B. Social Media Marketing –
C. SEO –
D. PR –
E. Direct Marketing –
F. Other –
What do you plan to spend your new funding on? Product
We plan to use the new funding to advance the development of the MP4OX product in severe traumatic haemorrhage and the MP4CO product in sickle cell disease.
If this is your first round of financing and you’re the CEO, how
many hours did you put into working on getting your financing? Was that taking up the most of your day?
This was not our first round of funding. This was a Series G round. The amount of time spent on the financing differed from week to week, but it certainly took up a significant amount of my time.
If you are the CEO, what are your biggest challenges?
As CEO, my biggest challenge is to ensure that we stay focused as a company in bringing MP4OX and MP4CO to patients in need.
How many employees do you have?
Approximately 70 employees.
When were you founded?
Sangart was founded in 1998.
Interested to know more about their recent funding? Check out their press release here.