Perceptive leads Crinetics' $63.5M series B

Endocrine disease company Crinetics Pharmaceuticals Inc. (San Diego, Calif.) raised $63.5 million on March 13 in a series B round led by Perceptive Advisors. New investors RA Capital and OrbiMed Advisors also participated, as did existing investors 5AM Ventures, Versant Ventures and Vivo Capital.

The company expects to report data on March 17 at the Endocrine Society meeting in Chicago from a Phase I trial of lead candidate CRN00808 in healthy volunteers. Crinetics is developing the oral agonist of somatostatin receptor 2 (SSTR2) to treat acromegaly...