Consano Bio, a clinical-stage biotechnology company advancing novel therapeutics designed to address serious, painful orthopaedic conditions, has completed an oversubscribed financing, raising more than its US $15 million target to support the clinical development of C-1101, the company’s lead investigational therapy.
The financing was subscribed by a syndicate of accredited private investors, and including this transaction, Consano Bio has now raised more than US $45 million in the three years since inception.
Consano Bio will use the proceeds to complete its ongoing randomised, double-blind phase 1 clinical trial of C-1101 and to continue to develop and strengthen the scientific foundation and intellectual property portfolio for C-1101 and additional assets.
The study is enrolling patients with chronic painful lumbosacral radiculopathy (LSR), or chronic sciatica, in Australia and the United States and is expected to complete enrollment in early 2027. Clinical data from the phase 1 study are expected in the first half of 2027 and are intended to inform further clinical development.
LSR is a significant subset of low back pain, which is the leading cause of years lived with disability in the US accounting for more US health care spending than any other condition, an estimated US $135 billion annually.
It is also a major driver of opioid initiation and chronic opioid use. Today there are no FDA-approved pharmaceutical treatments for chronic sciatica, leaving patients reliant on an unsatisfactory standard of care with treatments that provide only temporary or incomplete relief and do not address the underlying pathology.
In August 2026, the FDA granted C-1101 fast track designation for the treatment of LSR.
