LEI: 549300Q7EXQQH6KF7Z84

13 October 2021

RTW Venture Fund Limited

New Investment in CinCor

RTW Participates in $143 Million Series B Round in CinCor Pharma

·      RTW Venture Fund Limited announces a new portfolio investment, CinCor Pharma

·      The proceeds from the Series B financing round are intended to advance the development of CIN-107, oral small molecule inhibitor of aldosterone synthase, for the treatment of hypertension, primary aldosteronism and chronic kidney disease

RTW Venture Fund Limited (the "Company"), a London Stock Exchange-listed investment company focused on identifying transformative assets with high growth potential across the life sciences sector, is pleased to note the announcement by CinCor Pharma, Inc. ("CinCor") on 12 October 2021 of its completion of a US$143 million Series B financing round.

The Company, alongside other investment vehicles of RTW Investments, LP (the "Investment Manager"), confirms that it participated in the Series B financing round together with other investors.

CinCor is a privately held clinical-stage biopharmaceutical company developing next-generation treatments for cardio-renal diseases. Its lead asset, CIN-107, a first-in-class aldosterone synthase inhibitor, is in clinical development for the treatment of hypertension and primary aldosteronism. CinCor intends to use the proceeds from this financing round to support continued development of CIN-107 for the treatment of hypertension, primary aldosteronism and chronic kidney disease.

Roderick Wong, MD, Managing Partner and Chief Investment Officer at the Investment Manager, said:  

"We are delighted to support CinCor's efforts to develop next-generation treatments for hypertension, a condition that affects a significant patient population with limited innovative treatment options. The addition of CinCor to the portfolio further expands our focus on cardiovascular conditions and investing in first-in-class therapeutic approaches."

The Investment Manager is looking forward to growing the Company's investment pipeline and updating shareholders on further investments by the Company in due course.

CinCor's announcement can be accessed on its website at: www.cincor.com, the full text of which is contained below.  

For Further Information

RTW Investments, LP                                    +1 (646) 343 9280
Stephanie Sirota, Chief Business Officer
Alexandra Taracanova, PhD, Director of Investor Relations

Julia Enright, Senior Business Development Associate

Buchanan                                                         +44 (0)20 7466 5107
Charles Ryland

Henry Wilson

George Beale

About RTW Venture Fund Limited:

RTW Venture Fund Limited (LSE: RTW) is an investment company focused on identifying transformative assets with high growth potential across the life sciences sector. Driven by a long-term approach to support innovative businesses, RTW Venture Fund invests in companies developing next-generation therapies and technologies that can significantly improve patients' lives.

RTW Venture Fund Limited is managed by RTW Investments, LP, a leading healthcare-focused entrepreneurial investment firm with deep scientific expertise and a strong track record of supporting companies developing life-changing therapies.

Visit the RTW website at www.rtwfunds.com for more information.

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The information in this announcement may include forward-looking statements, which are based on the current expectations and projections about future events, and in certain cases can be identified by the use of terms such as "may", "will", "should", "expect", "anticipate", "project", "estimate", "intend", "continue", "target", "believe" (or the negatives thereon) or other variations thereon or comparable terminology. These forward-looking statements, as well as those included in any related materials, are subject to risks, uncertainties and assumptions about the Company and/or its underlying investments, including, among other things, the development of the applicable entity's business, trends in its operating industry, expected use of financing proceeds and future capital expenditures and acquisitions. In light of these risks, uncertainties and assumptions, the events in the forward-looking statements may not occur.

The information contained in this announcement is given at the date of its publication (unless otherwise marked). No reliance may be placed for any purpose whatsoever on the information or opinions contained in this announcement or on its completeness, accuracy or fairness.

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CinCor Pharma Raises $143 Million in Series B Financing

Funding will support continued development of CIN-107, a highly selective, oral small molecule inhibitor of aldosterone synthase product candidate, for the treatment of hypertension, primary aldosteronism and chronic kidney disease

CINCINNATI, Oct. 12, 2021 (GLOBE NEWSWIRE) -- CinCor Pharma, Inc. ("CinCor") today announced the completion of a $143 million Series B financing. The proceeds from this round will support the continued development of CIN-107, a highly selective, oral small molecule inhibitor of aldosterone synthase product candidate in development for the treatment of hypertension, primary aldosteronism and chronic kidney disease. The new funding will enable completion of the ongoing brigHTN Phase 2 clinical trial in patients with resistant hypertension as well as the ongoing Phase 2 Spark trial in hypertensive individuals with primary aldosteronism; in addition, it will support initiation of two new trials, a Phase 2 clinical trial (HALO) in patients with uncontrolled hypertension and a study of CIN-107's impact on blood pressure and kidney function in patients with chronic kidney disease (CKD).

The financing was led by General Atlantic, a leading global growth equity firm, with participation from new investors Perceptive Advisors, BVF Partners, venBio Partners, Adage Capital Management, Omega Funds, Rock Springs Capital, RTW Investments, LP, Lilly Asia Ventures, and Sixty Degree Capital, alongside existing investors Sofinnova Investments, Sofinnova Partners, 5AM Ventures and CinRx. Jason Pitts, Ph.D., Vice President at General Atlantic, will join CinCor's Board of Directors.

"This financing will enable us to obtain the data that we hope will establish that aldosterone synthesis inhibition is a potent approach to lowering blood pressure in several patient groups, including individuals with hypertension demonstrated to be resistant to existing treatment options," said Marc de Garidel, Chief Executive Officer of CinCor. "In addition, it will enable us to continue to obtain data that may expand the potential utility of CIN-107 into other indications including primary aldosteronism and CKD. We welcome our new high-quality investors to CinCor and Jason to the Board."

Dr. Pitts added, "There has been little innovation in the treatment of hypertension in the past several decades, along with a lack of incorporating targeted approaches seen in other fields. Currently, a large portion of hypertensive patients still do not reach treatment goals, increasing their risk of heart attack and stroke alongside more slowly developing conditions. By using a precision approach to target indications and patient populations where aldosterone is likely a primary driver of disease, CIN-107 has the potential to be a significant innovation for patients with difficult-to-treat cardiovascular conditions. We look forward to working with the company as they continue to advance in the clinic."

About CinCor
CinCor, founded in 2018, is a clinical-stage biopharmaceutical company with a mission to bring innovation to the pharmaceutical treatment of cardio-renal diseases. Its lead asset, CIN-107, a first-in-class aldosterone synthase inhibitor, is in clinical development for the treatment of hypertension and primary aldosteronism. CinCor has raised $193 million to date in two private financings.

About General Atlantic
General Atlantic is a leading global growth equity firm with more than four decades of experience providing capital and strategic support for over 400 growth companies throughout its history. Established in 1980 to partner with visionary entrepreneurs and deliver lasting impact, the firm combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to scale innovative businesses around the world. General Atlantic currently has over $78 billion in assets under management inclusive of all products as of June 30, 2021, and more than 175 investment professionals based in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, Singapore and Stamford. For more information on General Atlantic, please visit the website: www.generalatlantic.com.

About CIN-107
CIN-107 is a highly selective, oral small molecule inhibitor of aldosterone synthase, the enzyme responsible for the synthesis of aldosterone in the adrenal gland, that is being developed for patient populations with significant unmet medical needs, including treatment-resistant hypertension and primary aldosteronism. Hypertension, which is defined by the American College of Cardiology and the American Heart Association as resting blood pressure above 130/80 mm Hg, is generally acknowledged to be one of the most common preventable risk factors for premature death worldwide. Though often asymptomatic, hypertension significantly increases the risk of heart disease, stroke and kidney disease, amongst other diseases. It is estimated that as much as 20% of the global population suffers from hypertension, including nearly one-half of the adult population in the U.S., or (108 million hypertensive patients).

Contacts:

Investors:
Lee Roth
212-213-0006, ext. 331
lroth@burnsmc.com

Media:
Robert Flamm, Ph.D. / Harrison Wong
212-213-0006 ext. 364 / 316
rflamm@burnsmc.com / hwong@burnsmc.com
General Atlantic:
Mary Armstrong & Emily Japlon
media@generalatlantic.com