Spiral Therapeutics has recently closed an $8.25 million financing round for the phase 2 research and development of SPT-2101, which is the company’s lead candidate for the treatment of inner ear inflammation.
There were several investors who were part of this financing such as Humboldt Fund along with Savoir Capital and Catalio Capital Management. Spiral Therapeutics is a firm in the trial stages dedicated to providing treatments for inner ear conditions. Spiral is developing a treatment pipeline with an emphasis on problems of balance and hearing.
Hugo Peris, founder, and CEO of Spiral Therapeutics expressed his gratitude to his investors for their support over the years.
The company is providing a solution for hearing loss and balance issues by providing anti-inflammatory and neuroprotective medications. The medications are made to improve on the present approaches to medication administration for the treatment of inner ear problems.
The delivery platform is created to allow continuous drug diffusion through the membrane and into the cochlea for one to three months.
The sustained-release steroid formulation SPT-2101 was created by focusing mainly on the inner ear. Spiral just finished enrolling 10 patients with Ménière’s illness in an open-label pilot clinical investigation with SPT-2101. The trial was able to confirm the satefy profile of the therapy and showed betterment of patient-reported vertigo episodes at three months, in addition to other critical efficacy outcome measures. Pharmacokinetic data further confirmed the effectiveness of the company’s treatment solution.
A Phase 2 clinical trial that is a placebo-controlled trial will look at the safety and effectiveness of SPT-2101 administered as a single administration was initiated. Four clinical locations in Australia will recruit up to 30 patients with unilateral Meniere’s illness.
Ménière’s disease is a condition that lasts for a long period of time. Its symptoms include acute vertigo attacks, tinnitus, and fluctuating hearing loss. The most frequent symptom that patients experience and which is the most disturbing is vertigo attacks. Vertigo attacks affect the daily life of individuals which makes it difficult for them to manage. The NIDOCD has claimed that there are almost 0.6 million patients with Ménière’s disease in the US. The cure for the disease has still not been made neither is there any FDA-approved treatment.
Dr. Jafri Kuthubutheen from the University of Western Australia has stated:
“Ménière’s disease is a debilitating inner ear disorder usually diagnosed in patients between 40 to 60 years of age but can occur at any age. Patients suffer from hearing and balance symptoms that often continue throughout their lifetime. The safety profile and clinical data from the initial SPT-2101 trial show great promise for the unmet needs of people suffering from Ménière’s disease.”
The CMO of Spiral Therapeutics claims that there are 430 million people globally who are suffering from hearing loss. Research suggests that hearing and balance loss are amongst the most essential medical diseases that have been ignored in the past. There are currently no approved treatments available for these diseases. The company is hopeful to provide these patients with the treatment solution in the form of the success of SPT-2101.