Spiral Therapeutics, a San Francisco, CA-based clinical stage pharmaceutical company focused on the development of therapies targeting inner ear disorders, secured $3.7m as part of a Series A financing round.
The round was co-led by Savoir Capital and Camden Partners.
The company intends to use the funds to continue to advance its hearing loss pipeline. Spiral also announced the initiation of its Phase 1 clinical trial of LPT99, its lead investigational drug candidate targeting prevention and treatment of hearing loss.
Led by Hugo Peris, founder and Chief Executive Officer, Dr. Charles Limb, Chief Medical Officer, Eugene de Juan and Justin Hanes, Spiral Therapeutics is a clinical stage pharmaceutical company focused on the development of therapies targeting hearing loss and other inner ear disorders. Through the use proprietary therapeutics and drug delivery technologies, Spiral is building a pipeline of advanced therapies in a field with large unmet needs and no approved therapies. Spiral’s lead candidate, LPT99, reached the clinic in December 2018. The Phase 1 clinical trial is being conducted at a single site in Australia and is a randomized, double-blind, placebo-controlled, single ascending dose study to evaluate the safety and tolerability of LPT99 administered to healthy adult subjects. The company plans to enroll approximately 32 healthy participants and to complete the study by the second quarter of 2019.
The company, which has raised over $8.3m since its incorporation in early 2016, plans to secure additional funds into this round.