Spruce Bio Raises $88M for Clinical Tests of Rare Endocrine Disease Drug
Summary
Spruce Biosciences has raised $88 million to advance clinical testing of a drug for a rare inherited endocrine disorder that can lead to a potentially life-threatening hormonal imbalance. In a Phase 2a study, the company reported that the levels of adrenocortcotropic hormone, the target of tildacerfont, were reduced by an average of 74 percent from baseline. No serious adverse events were reported from the clinical trial, and the problems that did occur were classified as mild and not related to the Spruce drug. Ann Arbor, MI-based Millendo Therapeutics (NASDAQ: MLND) has advanced its drug, nevanimibe, to Phase 2b testing. Spruce says it will use the new cash to evaluate the ability of its drug to reduce glucocorticoid steroid use in a late-stage clinical trial enrolling adult CAH patients.
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