– Proceeds to advance development of Tildacerfont in Congenital Adrenal Hyperplasia and other indications
– Existing Investors Novo Holdings and RiverVest Venture Partners support the deal with new Investors HealthCap Partners, Rock Springs Capital, Aisling Capital, Surveyor Capital (a Citadel company) and Sands Capital joining the syndicate
San Francisco, California — February 19, 2020 – 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.