BRISBANE, Calif. — Spiral Therapeutics, a clinical stage pharmaceutical company delivering therapies for hearing loss, today announced the final closing of its Series A financing, bringing the total amount raised in this round to approximately $5.6 million. New investors participating in the second closing included Sunghwan Choi and Inveready. They joined the initial Series A investor syndicate led by Savoir Capital and Camden Partners.
“We are pleased to add these key, international investors to an already strong syndicate of Series A investors,” said Hugo Peris, founder and CEO of Spiral Therapeutics. “We have achieved a number of significant milestones in the first half of 2019, including the advancement of the Phase 1 trial for our lead candidate, LPT99. This additional funding will support our ongoing clinical development in hearing loss, as well as the advancement of discovery programs from our platform.”
“I value the science that Spiral is developing for the treatment of hearing loss, a disorder that has been highly dismissed until recently. We look forward to helping Spiral translate its science into valuable therapies for the many patients suffering from hearing loss,” said Sunghwan Choi.
“What attracted us to Spiral is the quality of the management team and advisors, as well as the focus on a neglected therapeutic area with great potential,” said Sara Secall, Investment Director at Inveready.
About Spiral Therapeutics
Spiral Therapeutics is a clinical stage pharmaceutical company delivering novel therapies for hearing loss. 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. Spiral was launched in early 2016 and is headquartered in Brisbane, CA.