Crinetics Pharmaceuticals Awarded $2.8 Million SBI

SAN DIEGO, July 13, 2017 (GLOBE NEWSWIRE) -- Crinetics Pharmaceuticals, Inc., a rare disease therapeutics company focused on endocrine disorders and endocrine-related cancers, announced today that it was awarded a Phase IIB Small Business Innovation Research (SBIR) grant of up to $2.8 million from the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK) of the National Institutes of Health (NIH). The grant will be used in the development of Crinetics’ orally-available, nonpeptide somatostatin agonist drug candidate, CRN00808, to treat acromegaly.

“We are very pleased with the NIH’s ongoing support of our efforts to discover and develop novel small molecule therapeutics for patients with rare endocrine disorders,” said Scott Struthers, Ph. D., Founder and CEO of Crinetics. “With this award, we are poised to bring our oral nonpeptide CRN00808 into the clinic, which is currently planned for the second half of 2017.”

Currently, the standard of care for patients with acromegaly involves painful monthly intramuscular or deep subcutaneous injections of peptide analogs of somatostatin. CRN00808 is a nonpeptide somatostatin agonist designed to be taken orally to free patients from injected therapies and the scheduling of frequent clinic visits to receive them. It is the result of extensive SBIR supported research efforts by scientists at Crinetics to optimize small molecule structures that can selectively activate the somatostatin sst2 receptor while also satisfying stringent preclinical criteria for pharmaceutical characteristics required of a drug candidate suitable for daily oral administration.

About Acromegaly

Acromegaly is a hormonal disorder resulting from the excess secretion of growth hormone, most commonly due to a benign pituitary tumor. Excessive growth hormone (GH) 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 shape, enlarged hands and feet, and a range of cardiovascular, respiratory, endocrine, and metabolic morbidities. If not adequately treated, acromegaly can lead to serious illness and become life-threatening. The prevalence of acromegaly has been estimated at approximately 9 cases per 100,000 persons with a total estimated U.S. patient population of 28,000.   

About CRN00808

CRN00808 is an orally available nonpeptide biased agonist of the somatostatin sst2 receptor that has demonstrated robust efficacy in animal models of excess growth hormone secretion. It is the product of Crinetics’ internal drug discovery efforts that are focused on identifying novel drug candidates for a range of rare endocrine diseases and endocrine-related cancers. CRN00808 is the lead program in Crinetics’ growing pipeline of drug candidates.

About the NIDDK

The National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK) conducts and supports research on diabetes and other endocrine and metabolic diseases; digestive diseases, nutrition, and obesity; and kidney, urologic, and hematologic diseases. Spanning the full spectrum of medicine and afflicting people of all ages and ethnic groups, these diseases encompass some of the most common, severe, and disabling conditions affecting Americans. For more information about the NIDDK and its programs, visit  www.niddk.nih.gov .

About Crinetics Pharmaceuticals

Crinetics Pharmaceuticals discovers and develops novel therapeutics targeting peptide hormone receptors for the treatment of rare endocrine disorders and endocrine-related cancers. Crinetics was founded by a team of scientists with a proven track record of endocrine drug discovery and development to create important new therapeutic options for endocrinologists and their patients. The company is backed by top life sciences investors, 5AM Ventures, Versant Ventures, and Vivo Capital and is headquartered in San Diego. For more information, please visit www.crinetics.com .

Contacts: R. Scott Struthers, Ph.D. Founder & CEO IR@crinetics.com (858) 450-6464 Robert H. Uhl Westwicke Partners robert.uhl@westwicke.com (858) 356-5932