Consano Bio Raises More Than $15 Million in Oversubscribed Financing to Advance C-1101 in Chronic Painful Lumbosacral Radiculopathy (Chronic Sciatica)

Proceeds will fund completion of the Phase 1 trial and continued development of C-1101,
a potential first-in-class disease-modifying therapeutic

Clinical data expected in 1H 2027

BURLINGTON, Mass., Oct. 5, 2026 /PRNewswire/ -- Consano Bio, Inc., a clinical-stage biotechnology company advancing novel therapeutics designed to address serious, painful orthopedic conditions, today announced that it has completed an oversubscribed financing, raising more than its $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 $45 million in the three years since inception.

Consano Bio will use the proceeds to complete its ongoing randomized, double-blind Phase 1 clinical trial of C-1101 (C-1101-101, NCT07264270) 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 U.S.¹ accounting for more U.S. health care spending than any other condition, an estimated $135 billion annually.² It is also a major driver of opioid initiation and chronic opioid use.³ 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.

"C-1101 represents a new category of disease-modifying biologics, designed to activate cellular repair and alleviate the pain and dysfunction that results from orthopedic conditions. LSR is where we begin, and we believe the potential of this approach extends well beyond a single condition," said Andrew Hall, Chief Executive Officer of Consano Bio. "The recently closed financing allows us to complete our first clinical study and to assess how C-1101 affects patients with chronic LSR versus an epidural saline injection. This is an exciting time for Consano Bio, and we are building toward what could transform how these conditions are treated."

About Chronic Lumbosacral Radiculopathy (LSR)
Chronic, painful LSR, or chronic sciatica, is a chronic lower back pain condition caused by damage or irritation of spinal nerve roots in the lower back, leading to radiating pain, numbness, and weakness from the spine into the leg. There are no FDA-approved pharmaceutical treatments for chronic sciatica despite its prevalence and widespread societal and economic impact.

About C-1101
C-1101 is Consano Bio's lead investigational clinical candidate and the first pharmaceutical therapy of its kind in development: a novel, platelet-derived multi-protein biologic therapeutic. It is designed to treat LSR, or chronic sciatica, by modulating inflammation and stimulating and enhancing cellular repair at the site of injury. The product contains consistent concentrations of cytokines, growth factors, and matrix proteins designed to help trigger the body's natural healing response. Delivered via an epidural injection, C-1101 is intended to provide supraphysiologic concentrations of these proteins directly to the site of nerve injury.

About Consano Bio
Consano Bio is a clinical-stage biotechnology company dedicated to transforming the treatment of painful and debilitating orthopedic conditions through a new class of multi-protein biologic therapeutics. The company is headquartered in the Greater Boston area. For more information, visit www.consanobio.com.

Contacts:

Consano Bio
Rahul Bansal
VP, Finance & Investor Relations
[email protected]
(908) 230-6689

Investor Relations
Tiberend Strategic Advisors, Inc.
David Irish
(231) 632-0002
[email protected]

Media Relations
Tiberend Strategic Advisors, Inc.
Casey McDonald
(646) 577-8520
[email protected]

¹JAMA. 2018;319(14):1444-1472. doi:10.1001/jama.2018.015
²Dieleman JL, et al. JAMA. 2020;323(9):863-884. doi:10.1001/jama.2020.0734
³Deyo RA, Von Korff M, Duhrkoop D. Opioids for low back pain. BMJ. 2015;350:g6380. doi:10.1136/bmj.g6380

SOURCE Consano Bio