Spruce Biosciences announces $53.6M private placement financing

Spruce Biosciences 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 $53.6 million, before deducting offering expenses. The private placement includes participation from new and existing investors, including 5am Ventures, Abingworth, Armistice Capital, HealthCap, Novo Holdings A/S, RiverVest Venture Partners, and Rock Springs Capital.