Sorbent receives additional $36m in Series B financing

With this, in total the company has received approximately $53m in its Series B financing from its investors like Novartis Venture Funds, Sofinnova Ventures, ARCH Venture Partners, CMEA Capital and AgeChem..

Novartis managing director Markus Goebel said Sorbent’s CLP platform presents an attractive investment opportunity and they are especially encouraged by the clinical data that Sorbent has generated to date, which shows promise for various indications in the cardio-renal field.

Sorbent president and CEO Detlef Albrecht said they believe CLP1001 has the potential to address a significant need in the cardiovascular market for safe and effective management of electrolyte and fluid levels in patients with CHF.