Mineralys Therapeutics Closes $118M Series B Financing

Mineralys Therapeutics

Mineralys Therapeutics, Inc., a Philadelphia, PA-based clinical-stage biopharmaceutical company committed to developing a novel therapy for the treatment of hypertension, closed a $118m Series B financing.

The round was led by RA Capital Management and Andera Partners with participation from new investors included RTW Investments, Rock Springs Capital, SR One Capital Management, Sectoral Asset Management, Ysios Capital, HealthCor Management and Boulder Ventures. Existing investors, including founding investment firm Catalys Pacific, Samsara BioCapital, HBM Healthcare Investments and Adams Street Partners also participated. As part of the Series B financing, Olivier Litzka, PhD, Partner, Andera Partners and Derek DiRocco, Partner, RA Capital Management will join the Mineralys Board of Directors.

The company plans to use the proceeds to continue to advance MLS-101, a highly selective aldosterone synthase inhibitor. MLS-101 is currently being evaluated in a Phase 2 clinical trial, called Target-HTN, for patients with uncontrolled hypertension.

Founded by Catalys Pacific and led by Jon Congleton, Chief Executive Officer, and BT Slingsby MD, PhD, MPH, Founder & Executive Chairman, Mineralys Therapeutics is a clinical-stage biopharmaceutical company committed to developing novel therapy for the treatment of hypertension. The company is driven to bring a targeted approach to the management of hypertension via the development of MLS-101. MLS-101, licensed from Mitsubishi Tanabe Pharma Corporation, is a selective and potent aldosterone synthase inhibitor that is being investigated for the treatment of hypertension.