Spiral Therapeutics Raises $27 Million in Series B Funding
Spiral Therapeutics, a clinical-stage biotechnology company based in South San Francisco, California, has announced the successful closing of a $27 million Series B funding round. The company focuses on developing therapies for inner ear disorders, a field with significant unmet medical needs.
Investment Details
The Series B round was led by Gund Investment, with participation from Advanced Bionics, Ferring Ventures, and Uni-Bio Science Group. This funding is expected to support the advancement of Spiral Therapeutics' pipeline programs, particularly focusing on its lead candidate SPT-2101 and the further development of its proprietary MICS drug delivery platform.
Strategic Collaboration with Advanced Bionics
As part of this funding round, Spiral Therapeutics has entered into a strategic collaboration with Advanced Bionics. This partnership aims to explore sustained local drug delivery during cochlear implantation. The collaboration will leverage Advanced Bionics' expertise in cochlear implant technology alongside Spiral's capabilities in targeted therapeutic delivery, with the goal of improving patient outcomes.
Focus on Inner Ear Disorders
Spiral Therapeutics is pioneering advancements in therapies that target the underlying biology of inner ear disorders. The company's lead program, SPT-2101, has shown promising results, demonstrating a statistically significant reduction in vertigo among patients with Ménière’s disease. Spiral is preparing to initiate a registrational clinical trial for this treatment.
The company's MICS platform is designed to enable minimally invasive, precise, and sustained delivery of therapeutics to the cochlea, supporting a broader pipeline of treatments for hearing loss and balance disorders.
CEO's Remarks
Hugo Peris, CEO of Spiral Therapeutics, commented on the funding round, saying, "This financing is a major milestone for Spiral. It brings Advanced Bionics on as a strategic partner, welcomes Gund Investment as our Series B lead, and reinforces the continued support of our existing investors."
Use of Funds
The proceeds from the Series B funding will be directed towards:
- Advancing the clinical development of SPT-2101.
- Further developing the MICS drug delivery platform.
- Supporting the overall growth and expansion of Spiral Therapeutics' pipeline programs.
Spiral Therapeutics continues to focus on addressing the challenges in treating inner ear disorders, aiming to bring innovative solutions to a field that has historically seen limited innovation.