CinRx Pharma, known for creating startup companies around promising drug assets, has raised $73 million in financing. The investors were industry insiders and high-net worth individuals. CinRx has now raised a total of $176 million. The company operates using a “hub and spoke” model, with separate subsidiaries sharing resources provided by the parent company. One successful company, CinCor Pharma, was acquired by AstraZeneca for $1.3 billion. Other CinRx companies are focusing on developing therapies for various medical conditions. The company plans to use the new funding to advance existing programs and expand into new areas of high unmet medical need.
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CinRx Pharma Corrals $73M to Continue ‘Hub and Spoke’ Model of Startup Formation
