SAN DIEGO, June 21, 2018 (GLOBE NEWSWIRE) -- Crinetics Pharmaceuticals, Inc., a clinical stage pharmaceutical company focused on the discovery, development and commercialization of novel therapeutics for rare endocrine diseases and endocrine-related tumors, today announced that it has been awarded up to approximately $3.2 million in Small Business Innovation Research (SBIR) grants from the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK) of the National Institutes of Health (NIH) to fund the continued research and development of its nonpeptide, oral somatostatin agonists for congenital hyperinsulinemias (CHI) and acromegaly. Under award numbers R44DK115290 for CHI and R44DK088501 for acromegaly, Crinetics will be eligible to receive funding for up to approximately $1.9 million and $1.3 million, respectively.
“We are pleased with the NIH’s continuing support of our congenital hyperinsulinism and acromegaly programs,” said Stephen Betz, Ph. D., Founder and Vice President of Biology of Crinetics. “These funds will help us progress CRN02481 for CHI and CRN00808 for acromegaly. Both of these rare diseases represent significant unmet medical needs, and the resources announced today will help us to advance potential treatments for the patients and families that profoundly need them.”
About Congenital Hyperinsulinism
Hyperinsulinemia is one of the most frequent causes of persistent hypoglycemia in infants and can result in seizures, developmental delays, learning disabilities, and even death. The most severe form of hyperinsulinemia arises from CHI, a disorder whose underlying pathology is driven by genetic mutations in key genes involved in regulating insulin secretion from pancreatic ß-cells.
About Acromegaly
Acromegaly is a hormonal disorder resulting from the excess secretion of growth hormone (GH), most commonly the result of a benign pituitary tumor. Excessive growth hormone secretion in turn causes excessive secretion of another hormone, insulin-like growth factor I (IGF-I). Symptoms from the pituitary tumor itself can include severe headaches, vision impairment, and impaired pituitary endocrine function. Excess GH and IGF-I secretion can also cause increased bone and soft tissue growth including changes in facial features, enlarged hands and feet, and a range of cardiovascular, respiratory, endocrine, and metabolic effects throughout the body. If not adequately treated, acromegaly can lead to serious illness and become life-threatening. There are an estimated 25,000 patients in the United States with acromegaly.
About Crinetics Pharmaceuticals
Crinetics Pharmaceuticals is a clinical stage pharmaceutical company focused on the discovery, development and commercialization of novel therapeutics for rare endocrine diseases and endocrine-related tumors. In March 2018, the Company reported initial results from a Phase 1 trial with its oral somatostatin agonist, CRN00808, for the treatment of acromegaly, an orphan disease affecting an estimated 25,000 people in the United States. The Company is also developing other oral somatostatin agonists for hyperinsulinism and neuroendocrine tumors, as well as an oral nonpeptide ACTH antagonist for the treatment of Cushing's disease. Crinetics was founded by a team of scientists with a track record of endocrine drug discovery and development. The Company is backed by life sciences investors including 5AM Ventures, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, Versant Ventures and Vivo Capital, and is headquartered in San Diego. For additional information please visit www.crinetics.com.
Contacts:
Marc Wilson
Chief Financial Officer
IR@crinetics.com
(858) 450-6464
Robert H. Uhl
Westwicke Partners
robert.uhl@westwicke.com
(858) 356-5932
The above content is solely the responsibility of Crinetics Pharmaceuticals, Inc. and does not necessarily represent the official views of the National Institutes of Health.