CinRx Pharma Secures Additional $73 Million Funding

CinRx Pharma, a biotech firm employing a hub-and-spoke business model to foster high-impact medications, has announced the completion of a $73 million financing round. This latest funding brings the total amount raised by the company to $176 million. The additional capital will be used to advance the development of CinRx’s existing portfolio and to explore new areas of unmet medical needs.

The investment round was supported by previous investors, who include industry experts and high-net-worth individuals. Since its inception, CinRx has launched five companies, known as “CinCos,” focused on cardiovascular, metabolic, and gastrointestinal conditions. The firm has also formed several strategic partnerships, termed CINergy partnerships, with existing companies to bolster its research and development efforts.

Dr. Jon Isaacsohn, the Founder and CEO of CinRx Pharma, emphasized the significance of this financing. “Our initial financings totaling $103 million were instrumental in constructing and advancing our seven-company portfolio. This included the successful formation, advancement, and eventual acquisition of CinCor Pharma for $1.8 billion, validating our effective team and business model,” Isaacsohn said. He noted that the new funds would accelerate the current programs and enable the identification and development of promising new therapies aimed at improving patients' quality of life.

The CinRx portfolio is managed by a team of experts with extensive experience in drug development. Each CinCo is created through a thorough asset selection process to identify innovative therapies that address significant unmet medical needs. This process ensures that the CinCos are well-positioned to develop treatments that can substantially reduce disease burdens.

Among the portfolio companies, CinCor Pharma was established to advance baxdrostat (CIN-107), an oral small molecule inhibitor of aldosterone synthase, designed to treat hypertension and other cardiorenal conditions. CinRx led the clinical design and funding efforts, resulting in a $194 million IPO in 2022. In early 2023, CinCor was acquired by AstraZeneca for $1.3 billion upfront, with an additional $500 million in potential milestone payments.

Another portfolio company, CinFina Pharma, is focusing on developing four therapies, in-licensed from Janssen Pharmaceuticals, aimed at treating obesity. In March 2024, CinFina began a Phase 1 trial of CIN-110, a PYY analog. They are also planning a Phase 2 study of CIN-109, a GDF-15 molecule, to evaluate its effects on body composition and lean body mass preservation, with and without semaglutide. Additionally, preclinical development is underway for CIN-209 and CIN-210.

CinDome Pharma is developing deudomperidone (CIN-102), a novel formulation of domperidone, for the chronic treatment of gastroparesis. Encouraging QT study data was presented at the 2023 Digestive Disease Week Conference. CinDome recently raised $40 million in a Series B financing and is currently enrolling patients in a Phase 2 study expected to read out in 2025.

CinPhloro Pharma is working on CIN-103, a small molecule aimed at the long-term management of irritable bowel syndrome with diarrhea (IBS-D). This molecule is a pulsatile-release formulation of phloroglucinol, an approved therapy in certain countries outside the U.S. In February 2024, the first patients were dosed in a Phase 2 study to evaluate its safety, efficacy, and tolerability.

CinRx Pharma, headquartered in Cincinnati, Ohio, continues to focus on advancing a diverse portfolio of high-impact medicines through clinical development. The company’s unique approach combines strategic financing with efficient progression of therapeutic candidates, addressing areas of high unmet medical need including metabolic, gastrointestinal, and oncology.

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