Spruce Biosciences has secured up to $50 million in growth capital from Avenue Capital to advance the development of its novel therapy for MPS IIIB, with the initial $15 million tranche extending its operational runway into 2027.

Information on the Target

Spruce Biosciences, Inc. is a late-stage biopharmaceutical company located in South San Francisco, California. The company is primarily focused on the development and commercialization of innovative therapies aimed at treating neurological disorders that currently have significant unmet medical needs. Spruce is preparing for the potential launch of its therapy, tralesinidase alfa enzyme replacement therapy (TA-ERT), targeting Sanfilippo Syndrome Type B (MPS IIIB), a rare and debilitating condition.

The company recently announced a significant capital raise, securing a loan facility with Avenue Capital Group for up to $50 million in growth funding. The initial tranche of $15 million will facilitate the advancement of its therapeutic pipeline and assist in reaching key regulatory milestones necessary for the therapy's eventual commercial launch.

Industry Overview in the Target’s Specific Country

The biopharmaceutical industry in the United States is a robust and evolving sector, characterized by rapid advancements in drug development and significant investments in research and innovation. The industry is predominantly driven by a need for novel therapie