Spruce Biosciences, Inc., a late-stage biopharmaceutical company focused on therapies for neurological disorders, has entered into a new loan facility with Avenue Venture Opportunities Fund II, L.P., a fund of Avenue Capital Group. The agreement provides Spruce with up to $50 million in growth capital, including an initial $15 million tranche to be funded around January 9, 2026. The remaining $35 million is available in additional tranches, subject to the achievement of key regulatory and commercial milestones related to the development and planned commercial launch of tralesinidase alfa enzyme replacement therapy (TA-ERT) for Sanfilippo Syndrome Type B (MPS IIIB). The loan has a 42-month term and is aimed at supporting the company’s operations, regulatory filings, and pre-launch commercial activities.

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