Sagent completes $53M financing

Sagent Pharmaceuticals, a privately-held US specialty drug firm, has announced the closing of a $53.0 million series A financing led by Vivo Ventures. The proceeds will be used primarily to fund near-term product launches, drug development activities and strategic business initiatives, including numerous development, sales and marketing, manufacturing and distribution partnerships.

Jeffrey Yordon, chief executive and founder of Sagent, commented: "this venture funding enables us to quickly advance many of our recent development efforts into near-term commercialization while accelerating development of our extensive pipeline. We are confident that our strong financial position and experienced management team, combined with the extensive experience and capabilities of our business partners, positions us to achieve rapid success in our target specialty product market."