Sparrow Pharmaceuticals raises $95M in Series B financing co-led by RA Capital Management and Forbion to develop clofutriben for type 2 diabetes treatment.
Amount Raised
$95 Million
Round Type
Series B
PortlandHealthcareHealth CareInvestors
Description
Sparrow Pharmaceuticals, a Portland, OR-based cardiometabolic therapeutics company, raised $95M Series B financing. The round was co-led by RA Capital Management and Forbion with participation from existing investors including OrbiMed, RiverVest, and US Venture Partners. The funds will support development of its lead candidate clofutriben for treating type 2 diabetes with elevated cortisol. Led by CEO Robert Jacks, the company focuses on improving outcomes for diabetes patients.
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