SPR Therapeutics – a private medical device company focused on treating pain and improving the quality of life for patients managing acute or chronic pain – announced it has secured $85 million in financing, including $25 million in Series D-1 insider equity and a $60 million debt facility.
This equity funding was led by Revelation Partners, SPR’s lead Series D equity financing investor, and incumbent investors RC Capital and Mutual Capital Partners. The debt facility was provided by SLR Capital Partners, and Armentum Partners served as the Company’s financial advisor.
The funding round will be used to capitalize on commercial momentum, customer demand, and market opportunity to expand SPR sales representation in additional U.S. sales territories. Along with sales expansion, the proceeds will support continued product development and build upon the largest set of peer-reviewed published PNS data in the industry.
KEY QUOTES:
“We thank our financing partners and are pleased to raise additional capital to support and accelerate our already significant growth. We have seen strong adoption of the SPRINT System in the last two years resulting in nearly 200 percent growth of our team, and tremendous year-over-year revenue growth of more than 50 percent from 2022 to 2023.”
“Supporting the effectiveness of SPRINT as a short-term, 60-day treatment with long-lasting results across multiple areas of pain including low back, shoulder, knee, as well as head and neck is at the core of our commitment to patients. We have recently shared economic assessments highlighting the efficiency and savings potential of SPRINT PNS versus traditional approaches and will continue to advance access to care.”
– Maria Bennett, President, CEO and Founder of SPR Therapeutics
“We are excited to lead this financing and continue our support of a high-growth MedTech company that is transforming the lives of those living with pain. We focus on investments in rapidly growing healthcare companies that are successfully addressing an unmet need, and SPR Therapeutics is a strong example of that given the accelerating adoption within the marketplace.”
– Scott Halsted, Managing Partner at Revelation Partners
