Spine BioPharma Raises $13M for Degenerative Disc Disease Therapy
Source: Spine BioPharma, Inc. New York, New York-based Spine BioPharma, Inc. has completed a $13 million Series B equity financing round, enabling further research and development of SB-01 For Injection (SB-01), its treatment for degenerative disc disease.
Spine BioPharma is a biopharmaceutical company focused on developing non-opiate, non-surgical therapies for low back pain caused by degenerative disc disease. The financing round included existing investors such as New York, New York-based Viscogliosi Bros., LLC; Bellevue, Washington-based Cercano Management; and Parsippany, New Jersey-based Pacira Biosciences, Inc.
OTW spoke with Spine BioPharma Chairman and Chief Executive Officer Marc Viscogliosi about the funding. Viscogliosi informed OTW, “The capital will be used to continue our clinical, regulatory and CMC/manufacturing activities for SB-01.”
Viscogliosi continued, “We will be adding team members to support our upcoming value creating activities.”
Spine BioPharma’s leading therapy is SB-01 (formerly called Remedisc™). SB-01 is also known as YH14618 by Yuhan Corp. and P2K by Ensol Biosciences (both based in South Korea).
According to the Spine BioPharma press release, the intradiscal injection is “a 7-amino acid chain peptide that binds to and induces down regulation of transforming growth factor, beta 1 (TGFβ1), which is often highly expressed in the degenerated discs of patients with lower back pain. Overexpression of TGFβ1 signaling is associated with inflammation and the degradation of extracellular matrix which maintains the structural integrity of healthy spinal discs.”
Additionally, “TGFβ1 also stimulates the expression of nerve growth factor, leading to an increase in sensory neurons and discogenic pain. SB-01 treatment of a diseased disc antagonizes the overexpression of TGFβ1, which decreases inflammation and supports the production of extracellular matrix, maintaining the structural integrity of the disc, decreasing pain and improving pain related disability.”
OTW also spoke with Viscogliosi about Spine BioPharma’s goals for 2022. Viscogliosi told OTW, “The primary goal is to initiate our clinical trial activities in the U.S. in 2022.”
