Harbour BioMed announced that, through its wholly-owned subsidiary, it has exercised its warrant to acquire common stock in Spruce Biosciences Inc. (SPRB). As a result of this transaction, Harbour BioMed now holds approximately 3.8% of Spruce's total outstanding shares and about 3.1% of its fully diluted shares.
The warrant was originally issued to Harbour BioMed's subsidiary, along with other minority shareholders of HBM Alpha Therapeutics (HBMAT), a biotechnology company incubated by Harbour BioMed. This issuance was part of a license and collaboration agreement between HBMAT and Spruce. The collaboration is focused on advancing the development of SPR202 (formerly known as HBM9013 by Harbour BioMed), a potent and selective anti-corticotropin-releasing hormone monoclonal antibody designed to treat various disorders, including congenital adrenal hyperplasia.
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.