An Or­biMed-backed start­up looks to cut ex­cess cor­ti­cos­teroids with mid-stage tests for its lead drug queued up

Or­biMed has had a busy few months with a slate of star­tups launch­ing out of its al­ways pro­duc­tive pipeline of busi­ness con­cepts. Now, an Or­biMed-backed play­er in Ore­gon is look­ing to tamp down in­tra­cel­lu­lar steroid tox­i­c­i­ty, and it’s got a healthy check to get off the ground.

Port­land-based Spar­row Phar­ma­ceu­ti­cals launched Tues­day with a $50 mil­lion Se­ries A led by Or­biMed and a lead cor­ti­cos­teroid low­er­ing can­di­date geared up for Phase II tri­als, the com­pa­ny said.

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