Vital Therapies Raises $16M

San Diego-based Vital Therapies, a biotechnology firm focused on treatments for acute liver failure, said Thursday that it has raised $16M, part of a $76M mult-stage commitment to the firm by its investors. The firm said the funding will go towards funding three, phase 3 trails of the company's liver therapy, which is aimed at treating acute liver failure. The trials are being held in the US, EU, and Australia/New Zealand. The firm did not say which of its existing investors are participating in the funding. The company says on its website that it has so far raised more than $75M in funding since inception in 2003.