Spine BioPharma, a biopharmaceutical company that aims to develop non-opiate, non-surgical therapies for the treatment of pain and disability from chronic low back pain caused by degenerative disc disease (DDD), has announced the completion of a US$13 million Series B equity financing.
Existing investors Viscogliosi Bros, Cercano Management, Pacira Biosciences and others participated in the financing round.
The money raised will be used to support the clinical advancement of the firm’s SB-01 (formerly referred to as Remedisc) therapeutic for the treatment of DDD.
Marc Viscogliosi, Spine BioPharma CEO, said: “We are delighted to continue to benefit from the financial support and expertise of our distinguished investor-partners. This Series B financing speaks to their confidence in our company, and it will help drive the research and development of SB-01, a unique therapeutic that offers a potential non-opiate, non-surgical treatment option to chronic low back pain patients.”