CinDome Pharma (a CinRx portfolio company dedicated to advancing a safe chronic therapy for gastroparesis) announced a $40 million Series B funding extension. The additional funds from existing investors, including Perceptive Advisors and CinRx Pharma, bring the Series B raise total to $59 million.
The funding will support the ongoing enrollment and evaluation of deudomperidone in the Phase 2 envision3D study in adults with diabetic gastroparesis and position the company for registrational trials.
Gastroparesis is an area of high unmet medical need, which impacts an estimated 12-16 million people in the U.S. alone, with an incidence rate growing on pace with diabetes and no U.S. Food and Drug Administration (FDA) approved long-term treatment option. And CinDome’s deudomperidone is a new chemical entity being evaluated to address the unmet need in gastroparesis as a novel formulation of domperidone, a frequently prescribed first-line therapy for nausea, vomiting and gastroparesis outside of the U.S.
KEY QUOTE:
“This increased investment in CinDome extends our important, ongoing development activities and enables readiness for deudomperidone to enter late-stage trials. We are grateful for the continued support and partnership from Perceptive Advisors to advance this high-impact therapeutic and bring a new hope to people impacted by gastroparesis.”
– Dr. Jon Isaacsohn, Founder and Chief Executive Officer at CinRx Pharma
