US-based cardiorenal treatment developer CinCor Pharma received $143m on Tuesday in a series B round that included Lilly Asia Ventures, a venture capital firm sponsored by pharmaceutical firm Eli Lilly.
Growth equity firm General Atlantic Led the round, which included Perceptive Advisors, BVF Partners, VenBio Partners, Omega Funds, RTW Investments, Adage Capital Management, Rock Springs Capital, Sixty Degree Capital, Sofinnova Investments, Sofinnova Partners and 5AM Ventures.
Founded in 2018, CinCor specialises in developing treatments for diseases affecting the heart and kidneys. The capital will be used to further develop its aldosterone synthase product drug candidate, CIN-107, designed to treat high blood pressure, chronic kidney disease (CKD) and primary aldosteronism.
The capital will also help advance the existing phase 2 trials of brigHTN – a prospective drug treatment for resistant hypertension – as well as to carry out phase 2 clinical trials on the candidate.
The company closed a $50m Sofinnova Investments-led series A round in May 2019 that also featured Sofinnova Partners and 5AM Ventures. Jason Pitts, vice-president at General Atlantic, is joining its board of directors in conjunction with the latest round.
CinCor CEO Marc de Garidel said: “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.
“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 and Jason to the board.”
