Jon Congleton, Mineralys CEO

RA Cap­i­tal backs a Philly biotech's $118M crossover as it aims to break in­to the hy­per­ten­sion space

While the hy­per­ten­sion mar­ket be­comes ever more crowd­ed with can­di­dates as J&J toss­es its hat in­to the ring, a Penn­syl­va­nia-based start­up is look­ing to carve its own path with back­ing from some no­table names at­tached.

Min­eralys Ther­a­peu­tics out of Philadel­phia has com­plet­ed a $118 mil­lion Se­ries B fi­nanc­ing with back­ing from RA Cap­i­tal Man­age­ment and An­dera Part­ners, the biotech an­nounced Wednes­day. The com­pa­ny plans to use the pro­ceeds to con­tin­ue ad­vanc­ing its lead drug can­di­date, MLS-101, for pa­tients with un­con­trolled hy­per­ten­sion.

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