Biopharmaceutical company Sangart Inc. said that it received $50 million in its series G round of venture capital from previous investor Leucadia National Corp. of New York.

Sangart, based in the Sorrento Valley/Mira Mesa area, is developing a product called MP4OX, which is a solution of cell-free hemoglobin administered intravenously to provide rapid oxygen delivery to oxygen deprived tissues.

Sangart disclosed the new funding May 24.

So far the company has raised $280 million.

— Brad Graves