CinCor Pharma Raises $143 Million in Series B Financing
Summary
Funding will support continued development of CIN-107, a highly selective, oral small molecule inhibitor of aldosterone synthase product candidate, for the treatment of hypertension, primary aldosteronism and chronic kidney disease CINCINNATI, Oct. 12, 2021 (GLOBE NEWSWIRE) -- CinCor Pharma, Inc. (“CinCor”) today announced the completion of a $143 million Series B financing. “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. We welcome our new high-quality investors to CinCor 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. General Atlantic currently has over $78 billion in assets under management inclusive of all products as of June 30, 2021, and more than 175 investment professionals based in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, Singapore and Stamford.