With $88M series B, Spruce seeks short path to approval in rare endocrine disorder

Spruce Biosciences hopes two rounds of financing will be enough to deliver pivotal data for its lead program, which takes a non-steroidal approach to treating endocrine disorders such as classic congenital adrenal hyperplasia (CAH).

Omega Funds and Abingworth co-led the new $88 million series B round for Spruce Biosciences Inc., announced late Wednesday. Joining them were existing investors Novo Holdings A/S and RiverVest Venture Partners, as well as first-time backers HealthCap Partners, Rock Springs Capital, Citadel’s Surveyor Capital, Aisling Capital and Sands Capital...