Sparrow Pharmaceuticals Secures $50 Million Series A Financing
05/18/21, 12:45 PM
Location
portlandMoney raised
$50 million
Round Type
series a
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 Info
Location
portland, oregon, united states
Additional Info
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.