Non-opi­oid drug de­vel­op­er snags PhI­II funds; aTyr and Spruce line up cap­i­tal

A biotech look­ing to cre­ate a non-opi­oid back pain med has reeled in more fi­nanc­ing.

Spine Bio­Phar­ma put to­geth­er a $13 mil­lion con­vert­ible note from in­sid­ers that will even­tu­al­ly close in­to a Se­ries C, CEO Marc Viscogliosi told End­points News. That rep­re­sents the same size as the biotech’s Se­ries B from last spring.

In­vestors in­clude the CEO’s firm Viscogliosi Bros, Paci­ra Bio­sciences and Cer­cano Man­age­ment, the in­vest­ment firm of the late-Paul Allen, co-founder of Mi­crosoft.

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