Spruce Biosciences (SPRB) announced that it has entered into a definitive securities purchase agreement for a private placement that is expected to result in gross proceeds of approximately $50.0 million, before deducting offering expenses, to advance tralesinidase alfa enzyme replacement therapy (TA-ERT) for the treatment of Sanfilippo Syndrome Type B (MPS IIIB) through a biologics license application submission in the first quarter of 2026 and potential U.S. commercial launch in late 2026. The private placement is expected to close on or about October 9, 2025, subject to the satisfaction of customary closing conditions. Leerink Partners, Citizens Capital Markets and H.C. Wainwright & Co. are acting as placement agents for the financing and Oppenheimer & Co. is acting as capital markets advisor for the financing.
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