CinRx Pharma, a Cincinnati, OH-based hub-and-spoke biotech company, raised additional $73M in funding.
The round, which brought the total amount to $176M, included participation from industry insiders and individuals.
The company intends to use the funds to advance development of its existing portfolio programs and assets to expand in key areas of high unmet medical need.
Led by CEO and Founder Dr. Jon Isaacsohn, CinRx Pharma is a biotech company advancing a diverse portfolio of high-impact medicines through clinical development with a hub-and-spoke business model. Its approach combines financing with the efficient progression of therapeutic candidates within its portfolio, each managed by CinRx’s central infrastructure and operating team. Differentiated by an asset selection process agnostic to therapeutic area, a strategic CRO partnership, and insights from thousands of development programs, the company identifies, funds and accelerates promising drugs with the potential to have the highest impact on patients’ quality of life.
To date, CinRx has launched five companies (“CinCos”) focused primarily on cardiovascular, metabolic and gastrointestinal conditions. In addition to its company creation function, CinRx has forged several CINergy partnerships with existing companies.
Commenting on the news, Jon Isaacsohn said: “Our early financings totaling $103 million supported the construction and progression of our seven-company portfolio. Notably, this included the formation, advancement and exit of CinCor Pharma ahead of its $1.8 billion acquisition, underscoring the success of our incredibly effective team and validation of our efficient business model.”
FinSMEs
02/06/2024