SPR Therapeutics, a Cleveland, OH-based private medical device company focused on treating pain and improving the quality of life for patients managing acute or chronic pain, raised $85m in financing.
This included $25m in Series D-1 insider equity and a $60m debt facility. The equity financing was led by Revelation Partners, SPR’s lead investor of the Series D equity financing, and incumbent investors, RC Capital and Mutual Capital Partners. The debt facility was provided by SLR Capital Partners.
The company intends to use the funds to capitalize on commercial momentum, customer demand, and market opportunity to expand its sales representation in additional U.S. sales territories. In addition to sales expansion, proceeds will support continued product development.
Led by Maria Bennett, President, CEO and Founder, SPR Therapeutics is a medical device company, providing patients with a non-opioid, minimally invasive pain treatment option. Its SPRINT® PNS System fulfills a critical unmet need for a drug-free, surgery-free option for millions who suffer from chronic pain. Headquartered in Cleveland, OH with satellite offices in Chapel Hill, NC and Minneapolis, MN, SPR provides the SPRINT® PNS System, a 60-day treatment to recondition the central nervous system to provide significant and sustained relief from chronic pain — without a permanent implant, nerve destruction or the risk of addiction. The system has been studied extensively for low back pain, shoulder pain, post-amputation pain, and chronic and acute post-operative pain, is cleared for use up to 60 days, and is recognized by leading pain management centers.
The SPRINT PNS System is indicated for up to 60 days for: Symptomatic relief of chronic, intractable pain, post-surgical and post-traumatic acute pain; symptomatic relief of post-traumatic pain; symptomatic relief of post-operative pain. The SPRINT PNS System is not intended to be placed in the region innervated by the cranial and facial nerves.
FinSMEs
01/02/2024