Fundraising Fox

Spruce Biosciences

NASDAQ: SPRB

South San Francisco, US · Founded 2016 · Delaware corporation · 8 known investors

sprucebiosciences.com ↗

Spruce Biosciences develops and commercializes therapies for serious neurological and endocrine disorders with unmet medical need, with a lead investigational enzyme replacement therapy (TA-ERT) for Mucopolysaccharidosis Type IIIB (Sanfilippo Syndrome Type B). The company works with patients and families affected by rare neurological conditions.

BiotechHealthtech

Founders & leadership

JS
Javier SzwarcbergExecutive
SG
Samir GharibExecutive
RK
RICHARD KINGExecutive

Board

SC
Simpson CamillaBoard director
TATiba Aynechi
Tiba AynechiinMember Board Of DirectorsGeneral Partner at Norwest Venture Partners
BMBali Muralidhar
Bali MuralidharinBoard directorGlobal Head of Life Sciences & CIO at Abingworth
NO
NIALL O'DONNELLinBoard directorManaging Director at RiverVest Venture Partners
JHJONAS HANSSON
JONAS HANSSONin𝕏Board Member2020–2021Partner at HealthCap
DCDINA CHAYA
DINA CHAYAinBoard directorPartner at OrbiMed
KW
Kirk WaysBoard director
PB
Percival Barretto-KoBoard director
MG
Michael GreyBoard director

Investors · 8

Aisling CapitalNew York
HealthCapStockholm
RiverVest Venture PartnersSt. Louis · $500K – $3M
AbingworthreportedLondon · $15M – $30Mvia Bali Muralidhar · board
Norwest Venture PartnersreportedMenlo Park · $10M – $30Mvia Tiba Aynechi · board
OrbiMedreportedNew York · $1M – $75Mvia Dina Chaya · board

Also in the syndicate · 2

Cure Sanfilippo FoundationNational MPS Society

Reported raises · per SEC filings

Form D private placements

$191.6M disclosed across 3 of 4 rounds · 2020–2026

▶$50MraisedOct 2025 · 21 investors · Biotechnology
Rule 506(b)
Officers, directors & promoters on the filing
  • Kirk WaysDirector
  • Javier SzwarcbergExecutive Officer, Director
  • Simpson CamillaDirector
  • Percival Barretto-KoDirector
  • Tiba AynechiDirector
  • Samir GharibExecutive Officer
  • Bali MuralidharDirector
  • Michael GreyExecutive Officer, Director
  • Daniel SpiegelmanDirector
Offering amount
$50M
Amount sold
$50M
Sales commissions
$3M
Placement agents
Citizens JMP Securities, LLC, H.C. Wainwright & Co., LLC, Leerink Partners LLC
First sale
Oct 2025
Incorporated
Corporation, Delaware
Federal exemptions
06b
Full filing on SEC EDGAR ↗
▶$53.6MraisedFeb 2023 · 20 investors · Biotechnology
Rule 506(b)
Officers, directors & promoters on the filing
  • Daniel SpiegelmanDirector
  • Javier SzwarcbergExecutive Officer, Director
  • Dina ChayaDirector
  • Tiba AynechiDirector
  • Samir GharibExecutive Officer
  • Kirk WaysDirector
  • Simpson CamillaDirector
  • Bali MuralidharDirector
  • Ralph William Charlton IIIExecutive Officer
  • Michael GreyExecutive Officer, Director
Offering amount
$53.6M
Amount sold
$53.6M
Sales commissions
$2.4M
Placement agents
SVB Securities LLC
First sale
Feb 2023
Incorporated
Corporation, Delaware
Federal exemptions
06b
Full filing on SEC EDGAR ↗
▶$88MraisedAug 2020 · 11 investors · Biotechnology
Rule 506(c)
Officers, directors & promoters on the filing
  • SAMIR GHARIBExecutive Officer
  • RICHARD KINGExecutive Officer, Director
  • TIBA AYNECHIDirector
  • CAMILLA SIMPSONDirector
  • NIALL O'DONNELLDirector
  • JONAS HANSSONDirector
  • BALI MURALIDHARDirector
  • MICHAEL GREYDirector
  • DINA CHAYADirector
Offering amount
$88M
Amount sold
$88M
First sale
Feb 2020
Incorporated
Corporation, Delaware, 2016
Federal exemptions
06c
Full filing on SEC EDGAR ↗

Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.

In the news

Spruce Biosciences gains 5.1% holder AWM Investment | SPRB SEC Filing - Form SCHEDULE 13Gstocktitan.net · Aug 2026OrbiMed reports 7.3% stake in Spruce Biosciences | SPRB SEC Filing - Form SCHEDULE 13Gstocktitan.net · Aug 2026Spruce Biosciences boosts cash as TA-ERT costs rise | SPRB Quarterly Report (10-Q)stocktitan.net · Aug 2026Cure Sanfilippo Foundation and National MPS Society Make $5.5 Million Strategic Investment in Spruce Biosciencesstreetinsider.com · Aug 2026Spruce Biosciences (SPRB) doubles cash as TA-ERT BLA and $5.5M backing advancestocktitan.net · Aug 2026Two foundations invest $5.5M in Spruce Biosciences for rare disease accessstreetinsider.com · Aug 2026

Frequently asked questions

What does Spruce Biosciences do?
Spruce Biosciences develops and commercializes therapies for serious neurological and endocrine disorders with unmet medical need, with a lead investigational enzyme replacement therapy (TA-ERT) for Mucopolysaccharidosis Type IIIB (Sanfilippo Syndrome Type B). The company works with patients and families affected by rare neurological conditions.
Who are Spruce Biosciences's investors?
Spruce Biosciences's investors include Aisling Capital, HealthCap, RiverVest Venture Partners, Abingworth, Norwest Venture Partners, OrbiMed.
How much funding has Spruce Biosciences raised?
Spruce Biosciences has disclosed $191.6M raised across 3 of its 4 known rounds.
Where is Spruce Biosciences headquartered?
Spruce Biosciences is headquartered in South San Francisco, US.