Spruce Biosciences secured a loan facility with Avenue Venture Opportunities Fund II, L.P. for up to $50 million in growth capital.
The initial tranche of $15 million will extend Spruce's cash runway into 2027.
The capital will support the advancement and potential launch of TA-ERT for the treatment of MPS IIIB.
Loan Facility Details
42-month term with an initial $15 million tranche fully funded on January 9, 2026, and three additional tranches totaling up to $35 million subject to key milestones.
Financial Update
As of December 31, 2025, Spruce reported cash and cash equivalents of approximately $48.9 million, supporting operations until 2027.
Partnership Impact
The collaboration aims to advance TA-ERT as a disease-modifying therapy for MPS IIIB, addressing the unmet needs of patients and families.
- Spruce's partnership with Avenue Capital enhances financial flexibility and supports critical developmental milestones for TA-ERT.
- The funding ensures continued operations until 2027, paving the way for potential breakthroughs in treating MPS IIIB.
Spruce Biosciences' agreement with Avenue Capital marks a significant step towards advancing TA-ERT for MPS IIIB, bringing hope to patients in need. The financial support and strategic partnership highlight the company's dedication to addressing neurological disorders.