SPR Therapeutics, a private medical device company focused on providing patients with pain relief without opioids or surgery, has raised $37 million in an oversubscribed Series D growth equity financing. The investment will be used to accelerate the rapidly growing commercial uptake of its FDA-cleared SPRINT® Peripheral Nerve Stimulation (PNS) System, to fund additional clinical research, and to advance next generation technology.
SPR’s SPRINT PNS System is a 60-day treatment, designed to be used early in the care continuum to provide significant and sustained pain relief and improvement in quality of life. In the past year, the pace of SPRINT PNS System use has more than doubled, having now treated over 6,500 patients.
Revelation Partners led the financing with additional investment from River Cities Capital and Mutual Capital Partners. SVB Leerink served as exclusive financial advisor to SPR on this transaction. The company’s equity financing has been supplemented with non-dilutive, highly competitive grant and contract funding from Federal agencies.