CinCor Pharma In-Licenses Aldosterone Synthase Inhibitor, CIN-107, and Closes $50 Million Series A Financing
CINCINNATI, May 14, 2019 (GLOBE NEWSWIRE) -- CinCor Pharma, Inc. (“CinCor”) announced today 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. In conjunction with the execution of the license agreement, CinCor completed a $50 million Series A financing led by Sofinnova Investments. Sofinnova Partners and 5AM Ventures also participated in the financing. Proceeds from the financing will be used to advance CIN-107 through proof-of-concept Phase 2 clinical trials in these two indications.
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.
“This promising compound has great potential in addressing the substantial unmet medical need in patients who cannot achieve required blood pressure goals despite taking multiple anti-hypertensive medications,” said Jon Isaacsohn, M.D., FACC, Chief Executive Officer and Co-Founder of CinCor. “Hypertensive patients who have not achieved goal blood pressures have significantly higher risks of heart attack and stroke. CIN-107 represents a new therapeutic option for these patients, as well as for patients who are at risk of aldosterone mediated end organ damage.”
Jim Healy, M.D., Ph.D., Managing Partner at Sofinnova Investments, has joined the CinCor Board of Directors. He states, “In my opinion, there has been a lack of innovation in the treatment of hypertension. Moreover, for many patients, the current standard of care does not adequately control their blood pressure. The mechanism of action in the compound that CinCor has acquired builds on what we believe to be significant data demonstrating the value of lowering aldosterone levels in patients with hypertension, and particularly in patients with primary aldosteronism.” In conjunction with the financing, Maina Bhaman from Sofinnova Partners and David Allison, Ph.D., from 5AM Ventures have also joined the Board of Directors.
About CinCor CinCor is a clinical-stage biopharmaceutical company with a mission to advance promising clinical candidates toward marketing approval. CinCor’s focus is on cardiovascular, metabolic and kidney diseases. CinCor Pharma, Inc. was founded by Jon Isaacsohn, M.D., and Catherine Pearce, DHSc, MBA, in 2018.
About CIN-107 CIN-107 works through the renin-angiotensin-aldosterone system (RAAS), which is responsible for regulating the body’s fluid and electrolyte balance. CIN-107 is a highly selective aldosterone synthase inhibitor being developed for large unmet medical needs, including resistant hypertension and primary aldosteronism. Hypertension guidelines were changed in 2017 by the Joint National Committee (JNC) based on overwhelming data demonstrating that reducing blood pressures to less than 130/80 mmHg reduced the risk of cardiac events, particularly heart attacks and stroke. With this target blood pressure, approximately 17% of the hypertensive population do not achieve goal levels despite the use of combinations of blood pressure lowering medications, and are considered treatment resistant. Data have shown the risk of MI, stroke, and death in adults with resistant hypertension to be 2- to 6-fold higher than in hypertensive adults who achieve goal levels.
About Sofinnova InvestmentsSofinnova Investments specializes in clinical and late preclinical investments in biopharmaceutical products. Their goal is to actively partner with entrepreneurs across all stages of company development. The firm seeks to build world class companies that aspire to dramatically improve the current state of medical care and the lives of patients through bringing innovative products to market. For more information, visit www.sofinnova.com.
About Sofinnova PartnersSofinnova Partners is a leading European venture capital firm specialized in Life Sciences. Based in Paris, France, the firm brings together a team of professionals from all over Europe, the US and China. The firm focuses on paradigm shifting technologies alongside visionary entrepreneurs. Sofinnova Partners seeks to invest as a lead or cornerstone investor in seed, start-ups, corporate spin-offs and late stage companies. It has backed nearly 500 companies over more than 45 years, creating market leaders around the globe. Today, Sofinnova Partners has over €2.0 billion under management. For more information: www.sofinnovapartners.com.
About 5AM VenturesFounded in 2002, 5AM actively invests in next-generation biotech companies. With approximately $1.5 billion raised since inception, 5AM has invested in 76 companies including Arvinas, Audentes Therapeutics, Crinetics Pharmaceuticals, DVS Sciences (acquired by Fluidigm), Envoy Therapeutics (acquired by Takeda), Flexion Therapeutics, Homology Medicines, Ikaria (acquired by Mallinckrodt), Ilypsa (acquired by Amgen), Marcadia Biotech (acquired by Roche), Novira Therapeutics (acquired by J&J), Pearl Therapeutics (acquired by AstraZeneca) and Relypsa (acquired by Vifor Pharma). For more information, please visit www.5amventures.com.
Investors: John Grimaldi, 212-213-0006, ext. 362 email@example.com