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Spruce Biosciences Raises $88 Million in Series B Financing, co-led by Omega Funds and Abingworth

Feb 20, 2020•over 5 years ago

Amount Raised

$88 Million

Round Type

series b

San Francisco

Description

Spruce Biosciences today announced it has raised $88 million in Series B financing co-led by Omega Funds and Abingworth and supported by existing investors Novo Holdings and RiverVest Venture Partners, as well as new investors HealthCap Partners, Rock Springs Capital, Surveyor Capital (a Citadel company), Aisling Capital and Sands Capital. Spruce is a clinical stage biopharmaceutical company developing therapeutics for rare endocrine diseases. The proceeds will be used to further fund the clinical development of the company’s lead product, tildacerfont, in classic congenital adrenal hyperplasia (CAH) and other conditions.

Company Information

Company

Spruce Biosciences

Location

San Francisco, California, United States

About

Spruce Biosciences is a clinical-stage biotechnology company focused on developing and commercializing novel therapies for rare endocrine disorders. The company’s lead product candidate, tildacerfont, is an investigational oral drug that is being evaluated in studies for the treatment of congenital adrenal hyperplasia (CAH). The company also plans to evaluate tildacerfont in other diseases impacted by elevated ACTH or adrenal androgens. Backed by investors including Omega Funds, Abingworth Bioventures, Novo Holdings, RiverVest Venture Partners, HealthCap Partners, Rock Springs Capital, Aisling Capital, Surveyor Capital (a Citadel company) and Sands Capital, Spruce is committed to bringing new treatment options to patients with unmet needs. For more information, please visit www.sprucebiosciences.com.

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