Investors Supporting Research to Advance the Treatment of Endocrine Diseases

Spruce is a privately held company backed by a quality group of Investors.  Together we are working to advance the clinical development of our lead drug candidate, tildacerfont, for congenital adrenal hyperplasia and other indications.  Our investors include:


Abingworth is a leading transatlantic life sciences investment firm. We help transform cutting-edge science into novel medicines by providing capital and expertise to top caliber management teams and building world-class companies. Since 1973, Abingworth has invested in approximately 160 life science companies, leading to more than 40 M&A/exits and over 65 IPOs. Our therapeutic focused investments fall into 3 categories: seed and early-stage, development stage, and clinical co-development. Abingworth supports its portfolio companies with a team of experienced professionals at offices in London, Menlo Park (California) and Boston.

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Aisling Capital

Aisling Capital is a leading investment firm that invests in products, technologies and global businesses that advance health.  Since 2000, Aisling Capital has raised over $1.8 billion in committed capital across four funds.  Aisling Capital invests in both private and public companies utilizing a wide variety of investment structures.  The Aisling Capital team’s combination of clinical, operational and financial experience allows the firm to identify, execute and realize investments across the life sciences industry.

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HealthCap is a European venture capital firm investing exclusively and globally in life sciences. The investment strategy focuses on diseases with high-unmet medical needs and breakthrough therapies that have the potential to be transformative and change medical practice, and the lives of patients suffering these conditions. Having raised more than EUR 1 billion since 1996, HealthCap has backed and built more than 100 companies, taken more than 40 companies public and done numerous trade sales. Over the years, HealthCap companies have developed 25 pharmaceutical products to market approval, including breakthrough therapies helping patients with life-threatening diseases. In addition, HealthCap companies have brought more than 50 innovative medical device products to market.

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Novo: Bringing promising ideas to life.

Novo is one of the key players in the international life science investment industry, and is currently investing in 76 portfolio companies. Our portfolio spans the entire range of life science development. From budding ideas that need financial and commercial nurturing, to well-established biomedical and bioindustrial companies that call for significant capital and a long term investor to accelerate growth.

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Omega Funds

Founded in 2004, Omega Funds is a leading international investment firm that creates and invests in life sciences companies that target our world’s most urgent medical needs. Omega focuses on identifying and supporting companies through value inflection points across the full arc of innovation, from company formation through clinical milestones and commercial adoption. Omega Funds’ portfolio companies have brought 37 products to market in multiple therapeutic areas, including oncology, rare diseases, precision medicine and others.

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Rivervest: Investing in life science innovation.

RiverVest Venture Partners® focuses exclusively on innovations in life sciences, a field in which our team has significant research, clinical, operational and investment expertise. Our team’s deep domain experience allows us to identify, found and actively incubate promising life science companies, particularly in the medical device and biopharmaceutical industries. We provide practical advice and strategic leadership to help entrepreneurs drive early-stage companies forward.

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Sands Capital

Sands Capital is an investment manager with over $50B under management.  The firm applies a rigorous, criteria-driven research process as it strives to identify high quality businesses that are leaders in their field.  Sands Capital invests across both the public and private markets via several strategies that all utilize a single growth-oriented philosophy.  The firm was founded in 1992 and maintains concentrated portfolios based on independent, bottom-up research processes.

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Surveyor Capital (a Citadel company)

Surveyor Capital is a global, multi-manager equities strategy and is one of Citadel’s three fundamental equities businesses. At the core of the Surveyor investment process, sector-aligned investment teams focus on understanding each company’s strategy, management team, drivers of performance, and cyclical and secular industry trends over the medium and long term.

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Congenital Adrenal Hyperplasia Adult Clinical Trial

The CAHmelia 203 study is now open to screening and CAHmelia 204 will open shortly. To learn more, and see if you may qualify, go to or

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Spruce Biosciences is a late-stage biopharmaceutical company focused on developing and commercializing novel therapies for rare endocrine disorders with significant unmet need. The company is initially developing its wholly-owned product candidate, tildacerfont, as the potential first non-steroidal therapy to offer markedly improved disease control and reduce steroid burden for patients suffering from classic congenital adrenal hyperplasia (CAH).