Vital Therapies Inc., a San Diego-based biotech company that is developing artificial livers for patients with liver failure, announced its latest financing round has increased to about $100 million.
The investors have remained private, but since 2003 the company has raised about $150 million.
Since the initial closing in September, more than $30 million has been invested under the multistage financing, with about $70 million remaining to be funded.
The financing will fund three phase 3 clinical trials of the company’s investigation of artificial liver therapy, and expect to enroll 375 subjects in the U.S., European Union and Australia. It is studying two diseases — alcoholic hepatitis and cirrhosis. The study is expected to be complete in 2015.
— SDBJ Staff Report