CinCor Pharma, Inc., a Cincinnati, OH-based clinical-stage biopharmaceutical company, completed a $50m Series A financing.
The round was led by Sofinnova Investments, with participation from Sofinnova Partners and 5AM Ventures. In conjunction with the funding, Jim Healy, M.D., Ph.D., Managing Partner at Sofinnova Investments, joined the CinCor Board of Directors, along with Maina Bhaman from Sofinnova Partners and David Allison, Ph.D., from 5AM Ventures.
CinCor Pharma also announced that it has signed an agreement with Roche to acquire exclusive global rights to a novel aldosterone synthase inhibitor (ASI) compound, CIN-107. CIN-107 will be developed for treatment resistant hypertension and primary aldosteronism. Financial terms of the licensing agreement were not disclosed.
The company intends to use the proceeds from the financing to advance CIN-107 through proof-of-concept Phase 2 clinical trials in these two indications.
Led by Jon Isaacsohn, M.D., FACC, Chief Executive Officer and Co-Founder, CinCor will be responsible for all development, manufacturing and commercialization of the compound.
In a Phase 1, single ascending dose clinical study, CIN-107 was well tolerated, demonstrated specificity for aldosterone inhibition, and showed significant, dose-dependent aldosterone lowering. CinCor will continue the development of CIN-107 with a multiple ascending dose Phase 1 clinical study, and following dose selection, will commence two Phase 2 clinical trials in patients with resistant hypertension and primary aldosteronism.
FinSMEs
14/05/2019