Burlington, Massachusetts-based Consano Bio, Inc. raised over USD 15 million in an oversubscribed financing to fund completion of a Phase I clinical trial of its lead candidate C-1101 in chronic painful lumbosacral radiculopathy (LSR), also known as chronic sciatica.
The round was subscribed by a syndicate of accredited private investors, with no individual lead investor named. Including this transaction, the company said it has raised more than USD 45 million in total since its inception.
Proceeds will support completion of the ongoing randomized, double-blind Phase I study of C-1101 (NCT07264270), which is enrolling patients in Australia and the US, with enrollment expected to complete in early 2027. Clinical data from the Phase I study are expected in the first half of 2027 and are intended to inform further clinical development. Funds will also support continued development of the company's intellectual property portfolio for C-1101 and additional assets.
C-1101 is a novel, platelet-derived multi-protein biologic designed to treat LSR by modulating inflammation and stimulating cellular repair at the site of nerve injury, delivered via epidural injection. The therapy contains consistent concentrations of cytokines, growth factors, and matrix proteins intended to provide supraphysiologic concentrations of these proteins directly to the site of injury. The US FDA previously granted the molecule Fast Track designation for the treatment of LSR in August 2026. Consano noted there are currently no FDA-approved pharmaceutical treatments for chronic sciatica, with patients reliant symptomatic relief.