Weeks after $143M megaround, low-profile CinCor looks to vault onto Nasdaq with a Roche castoff
CinCor Pharma made some noise earlier this year after raising $143 million in a Series B in October, thanks to a round led by General Atlantic. And now CEO Marc de Garidel, the former chairman and CEO of Ipsen who came on board the biotech in July, is moving forward — gunning for a spot on Nasdaq.
The Cincinnati-based, Sofinnova-backed biotech — founded in 2018 and spun out from parent company CinRx Pharma — filed an S-1 on Friday, penciling in $100 million for the raise. As for what the biotech plans to do with whatever amount it ultimately wants to raise, it’s all going into CinCor’s only drug candidate: CIN-107, an oral aldosterone synthase inhibitor that co-founders Jon Isaacsohn and Catherine Pearce licensed from Roche for initially $3 million back in 2019, according to the S-1. Aldosterone is a hormone linked to increased blood pressure, and has been a target of interest to treat hypertension.
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