CinDome Pharma Secures $40M Series B Extension

CinDome Pharma, a portfolio company of CinRx, has secured an additional $40 million in Series B financing, bringing the total to $59 million. This financial boost comes from existing investors, including Perceptive Advisors and CinRx Pharma. The funds will be utilized to continue the development of deudomperidone (CIN-102), specifically for the treatment of chronic gastroparesis. This includes preparing for registrational trials, which are essential for bringing new therapies to market.

Gastroparesis is a significant medical challenge, affecting between 12 to 16 million individuals in the United States. Its prevalence is rising alongside the increasing incidence of diabetes, yet there are no FDA-approved long-term treatment options available. CinDome’s deudomperidone aims to address this gap. Deudomperidone is a novel chemical formulation of domperidone, which is commonly used outside the U.S. to treat nausea, vomiting, and gastroparesis. However, due to safety concerns such as QT prolongation, domperidone has not received approval in the U.S.

Dr. Jon Isaacsohn, the Founder and CEO of CinRx Pharma, expressed his gratitude for the continued support from Perceptive Advisors. He emphasized that the additional investment would extend the company's development activities and prepare deudomperidone for late-stage trials. This is viewed as a significant step toward offering a new therapeutic option for people suffering from gastroparesis.

Deudomperidone, or CIN-102, has been engineered to provide sustained efficacy while reducing cardiac risks. Previous clinical trials have shown that deudomperidone is well-tolerated, with no drug-related adverse events or significant laboratory abnormalities reported. Furthermore, in a thorough QT study, it demonstrated no meaningful impact on QT intervals, even at exposures exceeding therapeutic doses. Earlier Phase 2a trials have also shown that deudomperidone effectively engages its target and improves gastric emptying time.

CinDome Pharma is committed to developing a safe, effective, and tolerable treatment for the millions of people affected by chronic gastroparesis. In the U.S. alone, around 16 million adults suffer from this condition, which significantly impacts their quality of life. The company’s flagship product, deudomperidone, is a re-engineered version of domperidone, a first-line treatment for gastroparesis worldwide. However, domperidone is not approved for use in the U.S., making the development of deudomperidone particularly important.

CinRx Pharma, the parent company, is a biotechnology firm focused on advancing a portfolio of high-impact medicines. Utilizing a unique hub-and-spoke business model, CinRx efficiently progresses therapeutic candidates through clinical development. Each candidate is managed by CinRx’s central infrastructure and operating team. The company addresses various areas of unmet medical need, including metabolic, gastrointestinal, and oncology sectors. CinRx differentiates itself through an asset selection process that is agnostic to therapeutic areas, strategic CRO partnerships, and insights from numerous development programs. This approach allows CinRx to identify, fund, and accelerate promising drugs that have the potential to significantly improve patients' quality of life. CinRx Pharma is based in Cincinnati, Ohio.

CinDome Pharma's recent financial extension is a crucial step in the ongoing development of deudomperidone, which has the potential to become the first FDA-approved long-term treatment for gastroparesis in the United States. The continued support from investors underscores the importance and promise of this therapeutic candidate in addressing an area of high unmet medical need.