3:29 PM
Mar 13, 2018
 |  BC Extra  |  Financial News

Perceptive leads Crinetics' $63.5M series B

Endocrine disease company Crinetics Pharmaceuticals Inc. (San Diego, Calif.) raised $63.5 million 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 Saturday 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.

Crinetics’ preclinical pipeline includes CRN02481, an oral SSTR5 agonist in development for hyperinsulinemia; and CRN01941, an oral SSTR2 agonist in development for neuroendocrine tumors. Next year, the company expects to begin clinical studies of both candidates.

5AM, Versant and Vivo co-led Crinetics' $40 million series A round in 2015 (see BioCentury, Nov. 9, 2015).

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