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Sparrow Pharmaceuticals Secures $50 Million Series A Financing

May 18, 2021•over 4 years ago

Amount Raised

$50 Million

Round Type

series a

Portland

Description

Sparrow Pharmaceuticals, an emerging clinical-stage biopharmaceutical company developing novel, targeted therapies for disorders of corticosteroid excess, today announced the closing of a $50 million Series A financing. OrbiMed led the investment round with participation by RiverVest Venture Partners and U.S. Venture Partners (USVP). This financing will allow the company to accelerate the development of its proprietary oral HSD-1 inhibitor, SPI-62, which targets the source of steroids that cause toxicity in key tissues

Company Information

Company

Sparrow Pharmaceuticals

Location

Portland, Oregon, United States

About

Sparrow Pharmaceuticals was founded to spare patients the ravages of steroids. Leveraging underappreciated scientific insights into corticosteroid biology, the company is working to provide better treatment options for serious disorders of hypercortisolism, and to revolutionize the treatment of autoimmune and inflammatory conditions. Its lead product, SPI-62, is an oral, small molecule, novel therapeutic treatment designed to target the source of active intracellular corticosteroids in key tissues.

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