Spruce Biosciences Raises $88 Million in Series B Financing, co-led by Omega Funds and Abingworth
02/20/20, 2:11 AM
Location
san franciscoMoney raised
$88 million
Round Type
series b
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 Info
Company
Spruce Biosciences
Location
san francisco, california, united states
Additional Info
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.