CinCor Pharma, Inc. (“CinCor”) today announced the completion of a $143 million Series B financing. The proceeds from this round will support the continued development of CIN-107, a highly selective, oral small molecule inhibitor of aldosterone synthase product candidate in development for the treatment of hypertension, primary aldosteronism and chronic kidney disease. The new funding will enable completion of the ongoing brigHTN Phase 2 clinical trial in patients with resistant hypertension as well as the ongoing Phase 2 Spark trial in hypertensive individuals with primary aldosteronism; in addition, it will support initiation of two new trials, a Phase 2 clinical trial (HALO) in patients with uncontrolled hypertension and a study of CIN-107’s impact on blood pressure and kidney function in patients with chronic kidney disease (CKD).
The financing was led by General Atlantic, a leading global growth equity firm, with participation from new investors Perceptive Advisors, BVF Partners, venBio Partners, Adage Capital Management, Omega Funds, Rock Springs Capital, RTW Investments, Lilly Asia Ventures, and Sixty Degree Capital, alongside existing investors Sofinnova Investments, Sofinnova Partners, 5AM Ventures and CinRx. Jason Pitts, Ph.D., Vice President at General Atlantic, will join CinCor’s Board of Directors.
“This financing will enable us to obtain the data that we hope will establish that aldosterone synthesis inhibition is a potent approach to lowering blood pressure in several patient groups, including individuals with hypertension demonstrated to be resistant to existing treatment options,” said Marc de Garidel, Chief Executive Officer of CinCor Pharma. “In addition, it will enable us to continue to obtain data that may expand the potential utility of CIN-107 into other indications including primary aldosteronism and CKD. We welcome our new high-quality investors to CinCor Pharma and Jason to the Board.”
Dr. Pitts added, “There has been little innovation in the treatment of hypertension in the past several decades, along with a lack of incorporating targeted approaches seen in other fields. Currently, a large portion of hypertensive patients still do not reach treatment goals, increasing their risk of heart attack and stroke alongside more slowly developing conditions. By using a precision approach to target indications and patient populations where aldosterone is likely a primary driver of disease, CIN-107 has the potential to be a significant innovation for patients with difficult-to-treat cardiovascular conditions. We look forward to working with the company as they continue to advance in the clinic.”