Benzinga | Apr 20, 2021 07:44AM EDT

Pacira Biosciences Makes $3M Convertible Note Investment In Spine BioPharma

Spine BioPharma, LLC, a company committed to developing non-opiate, non-surgical therapies for the treatment of pain and disability from chronic low back pain caused by degenerative disc disease, today announced a $3 million investment by Pacira Biosciences in the form of a convertible note. The investment will support the further development of Remedisc, a first-in-class therapeutic for the treatment of degenerative disc disease. Pacira will make an additional $7 million investment predicated upon achieving certain prespecified milestones.