{"id":925333,"date":"2026-01-08T08:20:31","date_gmt":"2026-01-08T13:20:31","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/spruce-biosciences-secures-up-to-50-million-in-growth-capital-from-avenue-capital\/"},"modified":"2026-01-08T08:20:31","modified_gmt":"2026-01-08T13:20:31","slug":"spruce-biosciences-secures-up-to-50-million-in-growth-capital-from-avenue-capital","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/spruce-biosciences-secures-up-to-50-million-in-growth-capital-from-avenue-capital\/","title":{"rendered":"Spruce Biosciences Secures Up to $50 Million in Growth Capital from Avenue Capital"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Spruce Biosciences Secures Up to $50 Million in Growth Capital from Avenue Capital<\/b><\/p>\n<p class=\"bwalignc\"><i>Initial Funding of $15 Million from the First of Four Tranches, Extending Cash Runway into 2027<\/i><\/p>\n<p class=\"bwalignc\"><i>Facility Will Support Advancement and Potential Launch of TA-ERT for the Treatment of MPS IIIB<\/i><\/p>\n<p>SOUTH SAN FRANCISCO, Calif.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nSpruce Biosciences, Inc. (Spruce) (Nasdaq: SPRB), a late-stage biopharmaceutical company focused on developing and commercializing novel therapies for neurological disorders with significant unmet medical need, today announced that, on January 7, 2026, it entered into a loan facility with Avenue Venture Opportunities Fund II, L.P., a fund of Avenue Capital Group (Avenue Capital), for up to $50 million in growth capital.<\/p>\n<p>\nThe loan facility has a 42-month term and includes an initial tranche of $15 million, which will be fully funded on or around January 9, 2026, and three additional tranches totaling up to $35 million, the funding of which is subject to the satisfaction of certain terms and conditions of the loan and security agreement, including the achievement of key regulatory and commercial milestones related to the company\u2019s development and planned commercial launch of<i \/>tralesinidase alfa enzyme replacement therapy (TA-ERT) for the treatment of Sanfillipo Syndrome Type B (MPS IIIB).<\/p>\n<p>\n\u201cWe are pleased to partner with Avenue Capital on a strategic financing agreement with attractive terms that strengthens our financial flexibility,\u201d said Samir Gharib, President and Chief Financial Officer of Spruce Biosciences. \u201cAt the drawdown of the initial $15 million tranche, we expect our cash and cash equivalents to fund planned operations into 2027, supporting the biologics license application (BLA) filing of TA-ERT for the treatment of MPS IIIB, while also accelerating pre-launch commercial activities.\u201d<\/p>\n<p>\n\u201cWe believe Spruce is well-positioned to advance and potentially launch TA-ERT as the first disease-modifying therapy to treat MPS IIIB, and we\u2019re proud to be partnering with this outstanding team to advance that mission,\u201d said Chad Norman, Senior Portfolio Manager at Avenue Capital. \u201cWith no FDA-approved treatments currently available to treat MPS IIIB, TA-ERT has the potential to be a groundbreaking advancement for patients and families impacted by this devastating disease.\u201d<\/p>\n<p>\nArmentum Partners acted as the company&#8217;s exclusive financial advisor on this transaction.<\/p>\n<p><b>Financial Update<\/b><\/p>\n<p>\nSpruce also reported cash and cash equivalents were approximately $48.9 million as of December 31, 2025.<\/p>\n<p>\nThis estimate of the company\u2019s cash and cash equivalents as of December 31, 2025 is preliminary, has not been audited and is subject to change upon completion of the company\u2019s financial statement closing procedures. Additional information and disclosure would be required for a more complete understanding of the company\u2019s financial position and results of operations as of December 31, 2025. The information presented herein should not be considered a substitute for the financial information the company files with the SEC in its annual report on Form 10-K for the year ended December 31, 2025. The company has no intention or obligation to update preliminary estimates of its cash and cash equivalents set forth above.<\/p>\n<p><b>About Avenue Venture Opportunities<\/b><\/p>\n<p>\nThe Avenue Venture Debt Funds seek to provide creative financing solutions to high-growth, venture capital-backed technology and life science companies, focusing generally on companies within the underserved segment of the market created by the widening financing gap between commercial banks and larger debt funds. The Avenue Venture Debt funds are part of the larger group of funds of Avenue Capital Group. For additional information on Avenue Capital Group, which is a global investment firm with assets under management of more than $10 billion, visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.globenewswire.com%2FTracker%3Fdata%3DhEG5YmqeogQ_PFpdXx9GKiWkwrNWyYr7OEQQsQ7LjVtmJwB9bOJtNPigR_H9P2FE8z6fZPOaZQE7lymVp08wfLmEMQ_EArHJgqCN1zc3cBQ%3D&amp;esheet=54391592&amp;newsitemid=20260108628049&amp;lan=en-US&amp;anchor=www.avenuecapital.com&amp;index=1&amp;md5=98aa8fefc15505f0e685f1674e68cded\">www.avenuecapital.com<\/a>.<\/p>\n<p><b>About Spruce Biosciences<\/b><\/p>\n<p>\nSpruce Biosciences is a late-stage biopharmaceutical company focused on developing and commercializing novel therapies for neurological disorders with significant unmet medical need. To learn more, visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.sprucebio.com&amp;esheet=54391592&amp;newsitemid=20260108628049&amp;lan=en-US&amp;anchor=www.sprucebio.com&amp;index=2&amp;md5=83d51a95e72bd9d67627d5a40d244df1\">www.sprucebio.com<\/a> and follow us on <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Ftwitter.com%2FSpruce_Bio&amp;esheet=54391592&amp;newsitemid=20260108628049&amp;lan=en-US&amp;anchor=X&amp;index=3&amp;md5=3f8cafece321078bf5af911cbb352c5c\">X<\/a>, <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Fspruce-biosciences&amp;esheet=54391592&amp;newsitemid=20260108628049&amp;lan=en-US&amp;anchor=LinkedIn&amp;index=4&amp;md5=643987cbb15a59bb5baf9fe92a7d9415\">LinkedIn<\/a>, <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.facebook.com%2FSpruceBio&amp;esheet=54391592&amp;newsitemid=20260108628049&amp;lan=en-US&amp;anchor=Facebook&amp;index=5&amp;md5=43e7342b26ca7b8588f85fc3fe691f8d\">Facebook<\/a> and<a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.youtube.com%2F%40sprucebiosciences&amp;esheet=54391592&amp;newsitemid=20260108628049&amp;lan=en-US&amp;anchor=YouTube&amp;index=6&amp;md5=124fde4098feeaa2703201a1b97dd728\"> YouTube<\/a>.<\/p>\n<p><b>Forward-Looking Statements<\/b><\/p>\n<p>\nStatements contained in this press release regarding matters that are not historical facts are \u201cforward-looking statements\u201d within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements regarding, among other things, the timing and likelihood of regulatory filings and approvals for TA-ERT, including the anticipated biologics license application submission of TA-ERT for MPS IIIB, TA-ERT\u2019s potential to be the first disease-modifying therapy to treat MPS IIIB and to be a ground breaking advancement for patients and families impacted by MPS IIIB, and Spruce\u2019s cash runway and financial position. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as \u201canticipate,\u201d \u201cbelieve,\u201d \u201cwill,\u201d \u201cpotential,\u201d \u201cintend,\u201d \u201cexpect\u201d and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon Spruce\u2019s current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, risks and uncertainties associated with Spruce\u2019s business in general, the impact of geopolitical and macroeconomic events, and the other risks described in Spruce\u2019s filings with the U.S. Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management\u2019s assumptions and estimates as of such date. Spruce undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20260108628049r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20260108628049\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20260108628049\/en\/<\/a><\/span><\/p>\n<p><b>Media<br \/>\n<\/b><br \/>Carolyn Hawley<br \/>\n<br \/>Inizio Evoke Comms<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:Carolyn.Hawley@inizioevoke.com\">Carolyn.Hawley@inizioevoke.com<br \/>\n<\/a><br \/><a rel=\"nofollow\" href=\"mailto:media@sprucebio.com\">media@sprucebio.com<\/a><\/p>\n<p><b>Investors<br \/>\n<\/b><br \/>Samir Gharib<br \/>\n<br \/>President and CFO<br \/>\n<br \/>Spruce Biosciences, Inc.<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:investors@sprucebio.com\">investors@sprucebio.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America California<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Biotechnology Pharmaceutical Health Neurology<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20260108628049\/en\/2685951\/3\/SB_Logo_Short_Color_Large.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Spruce Biosciences Secures Up to $50 Million in Growth Capital from Avenue Capital Initial Funding of $15 Million from the First of Four Tranches, Extending Cash Runway into 2027 Facility Will Support Advancement and Potential Launch of TA-ERT for the Treatment of MPS IIIB SOUTH SAN FRANCISCO, Calif.&#8211;(BUSINESS WIRE)&#8211; Spruce Biosciences, Inc. (Spruce) (Nasdaq: SPRB), a late-stage biopharmaceutical company focused on developing and commercializing novel therapies for neurological disorders with significant unmet medical need, today announced that, on January 7, 2026, it entered into a loan facility with Avenue Venture Opportunities Fund II, L.P., a fund of Avenue Capital Group (Avenue Capital), for up to $50 million in growth capital. The loan facility has a 42-month term and includes an &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/spruce-biosciences-secures-up-to-50-million-in-growth-capital-from-avenue-capital\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Spruce Biosciences Secures Up to $50 Million in Growth Capital from Avenue Capital&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-925333","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Spruce Biosciences Secures Up to $50 Million in Growth Capital from Avenue Capital - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/spruce-biosciences-secures-up-to-50-million-in-growth-capital-from-avenue-capital\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Spruce Biosciences Secures Up to $50 Million in Growth Capital from Avenue Capital - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Spruce Biosciences Secures Up to $50 Million in Growth Capital from Avenue Capital Initial Funding of $15 Million from the First of Four Tranches, Extending Cash Runway into 2027 Facility Will Support Advancement and Potential Launch of TA-ERT for the Treatment of MPS IIIB SOUTH SAN FRANCISCO, Calif.&#8211;(BUSINESS WIRE)&#8211; Spruce Biosciences, Inc. (Spruce) (Nasdaq: SPRB), a late-stage biopharmaceutical company focused on developing and commercializing novel therapies for neurological disorders with significant unmet medical need, today announced that, on January 7, 2026, it entered into a loan facility with Avenue Venture Opportunities Fund II, L.P., a fund of Avenue Capital Group (Avenue Capital), for up to $50 million in growth capital. 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/spruce-biosciences-secures-up-to-50-million-in-growth-capital-from-avenue-capital\/","og_locale":"en_US","og_type":"article","og_title":"Spruce Biosciences Secures Up to $50 Million in Growth Capital from Avenue Capital - Market Newsdesk","og_description":"Spruce Biosciences Secures Up to $50 Million in Growth Capital from Avenue Capital Initial Funding of $15 Million from the First of Four Tranches, Extending Cash Runway into 2027 Facility Will Support Advancement and Potential Launch of TA-ERT for the Treatment of MPS IIIB SOUTH SAN FRANCISCO, Calif.&#8211;(BUSINESS WIRE)&#8211; Spruce Biosciences, Inc. (Spruce) (Nasdaq: SPRB), a late-stage biopharmaceutical company focused on developing and commercializing novel therapies for neurological disorders with significant unmet medical need, today announced that, on January 7, 2026, it entered into a loan facility with Avenue Venture Opportunities Fund II, L.P., a fund of Avenue Capital Group (Avenue Capital), for up to $50 million in growth capital. The loan facility has a 42-month term and includes an &hellip; Continue reading \"Spruce Biosciences Secures Up to $50 Million in Growth Capital from Avenue Capital\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/spruce-biosciences-secures-up-to-50-million-in-growth-capital-from-avenue-capital\/","og_site_name":"Market Newsdesk","article_published_time":"2026-01-08T13:20:31+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20260108628049r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/spruce-biosciences-secures-up-to-50-million-in-growth-capital-from-avenue-capital\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/spruce-biosciences-secures-up-to-50-million-in-growth-capital-from-avenue-capital\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Spruce Biosciences Secures Up to $50 Million in Growth Capital from Avenue Capital","datePublished":"2026-01-08T13:20:31+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/spruce-biosciences-secures-up-to-50-million-in-growth-capital-from-avenue-capital\/"},"wordCount":953,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/spruce-biosciences-secures-up-to-50-million-in-growth-capital-from-avenue-capital\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20260108628049r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/spruce-biosciences-secures-up-to-50-million-in-growth-capital-from-avenue-capital\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/spruce-biosciences-secures-up-to-50-million-in-growth-capital-from-avenue-capital\/","name":"Spruce Biosciences Secures Up to $50 Million in Growth Capital from Avenue Capital - 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