Spruce Biosciences separates CRHX-101 program into Adrenyx Biosciences
SPRB•Spruce Biosciences said it will separate its CRHX-101 program into Adrenyx Biosciences, with up to $50 million committed to Adrenyx by a healthcare investor and the deal set to create two independent, publicly traded companies.
1. Program separation
Spruce Biosciences said it will separate the CRHX-101 program, formerly known as SPR-202, into Adrenyx Biosciences. Up to $50 million is committed to Adrenyx from a healthcare investor, and the deal will create two independent, publicly traded companies. Samir Gharib will continue as Adrenyx’s president and CEO after the distribution.
