# Sparrow Pharmaceuticals, Inc.

> Sparrow Pharmaceuticals is a clinical-stage biopharmaceutical company developing clofutriben, an oral, once-daily HSD-1 inhibitor that lowers active cortisol inside specific tissues rather than shutting down the body's steroid system entirely. Founded in 2013 by scientist David Katz, the company has raised roughly $145 million across Series A and Series B rounds and is running the Phase 2b CAPTAIN-T2D trial in patients with type 2 diabetes and elevated cortisol, alongside programs in Cushing's syndrome and autonomous cortisol secretion.

- **Founded:** 2013
- **Headquarters:** Portland, Oregon, United States
- **Founders:** David Katz (Founder & Chief Scientific Officer)
- **Team size:** ~18 employees
- **Products:** Clofutriben (formerly SPI-62), CAPTAIN-T2D (Phase 2b trial), SPI-47
- **Notable:** Raised approximately $145 million across Series A ($50M, 2021) and Series B ($95M, 2025), Received FDA Orphan Drug Designation for clofutriben in endogenous Cushing's syndrome, Completed a Phase 2 trial of clofutriben and advanced into Phase 2b (CAPTAIN-T2D)

## Products & services

- **Clofutriben (formerly SPI-62)** — An oral, once-daily, selective and potent small-molecule inhibitor of the enzyme 11-beta-hydroxysteroid dehydrogenase type 1 (HSD-1). It reduces active intracellular cortisol in key tissues such as the liver, adipose, bone and brain - shown to cut liver cortisol by roughly 90% - without suppressing the adrenal system. In clinical development for type 2 diabetes with elevated cortisol, endogenous Cushing's syndrome, and autonomous cortisol secretion.
- **CAPTAIN-T2D (Phase 2b trial)** — A mid-stage clinical trial evaluating clofutriben in patients with type 2 diabetes and elevated cortisol, with topline results expected in 2027.
- **SPI-47** — An earlier-stage pipeline candidate extending Sparrow's targeted approach to intracellular steroid regulation.

## Achievements

- Raised approximately $145 million across Series A ($50M, 2021) and Series B ($95M, 2025)
- Received FDA Orphan Drug Designation for clofutriben in endogenous Cushing's syndrome
- Completed a Phase 2 trial of clofutriben and advanced into Phase 2b (CAPTAIN-T2D)
- Demonstrated ~90% reduction of intracellular cortisol in the liver in clinical testing
- Established academic collaborations with the University of Oxford and University of Sheffield
- Presented data at ENDO, the European Congress of Endocrinology, and EULAR rheumatology congresses

## Latest updates

- **2025-09** — Announced $95 million Series B financing co-led by RA Capital Management and Forbion to advance clofutriben as a targeted therapy for type 2 diabetes with elevated cortisol.
- **2025-09** — Added Zach Scheiner (RA Capital) and Nanna Luneborg (Forbion) to its board of directors.
- **2024-12** — Announced collaboration with the University of Oxford and University of Sheffield on DC-MACS, a Phase 2 study of clofutriben in autonomous cortisol secretion.
- **2024-06** — Presented data showing clofutriben reduces glucocorticoid toxicities with a low risk of adrenal insufficiency at the Endocrine Society conference.

## Links

- Website: https://sparrowpharma.com
- LinkedIn: https://www.linkedin.com/company/sparrowpharma
- Twitter/X: https://twitter.com/sparrowpharma

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Last updated: 2026-07-18