Spiral completes new financing and initiates Phase 2 Trial in Ménière’s disease

Our portfolio company Spiral Therapeutics announces the completion of $8.25M in new financing, with proceeds that will fund the continuing development of their lead candidate, SPT-2101, for the treatment of inner ear inflammation.

SPT-2101 is a sustained-release steroid formulation designed for precise inner ear administration using Spiral’s novel delivery procedure. Spiral recently completed enrollment of an open label pilot clinical study of SPT-2101 in 10 patients with Ménière’s disease. Data from this study confirmed the favorable safety profile of SPT-2101, as well as marked improvements from baseline in the frequency and severity of patient-reported vertigo episodes at 3 months and in other key efficacy outcome measures. Further, pharmacokinetic data provided confirmation of the durability of Spiral’s drug delivery platform.