CINCINNATI, Oct. 28, 2021 (GLOBE NEWSWIRE) — CinCor Pharma, Inc. (“CinCor”) today announced the appointment of Terry Coelho as Executive Vice President, Chief Financial Officer and Chief Business Development Officer (EVP, CFO and CBDO).
“Terry gained broad financial and operational leadership experience at several high-profile and start-up companies, including in the biopharmaceutical sector,” said Marc de Garidel, Chief Executive Officer of CinCor. “We are very fortunate to have attracted Terry to join the CinCor leadership team. With the capital raised from our recent Series B round and Terry’s proven leadership in building finance organizations, driving business development and supporting growth, CinCor will be well-positioned to advance to the next stage in clinical development. Our entire management team and the Board are very excited to welcome Terry to CinCor.”
Ms. Coelho has an accomplished track record as a leader across all areas of finance for public and private biopharmaceutical companies. Most recently she served as Executive Vice President and Chief Financial Officer of BioDelivery Services International, a commercial-stage specialty pharmaceutical company, where she contributed significantly to the financial and operational transformation of the company, driving many strategic and business development initiatives, including a successful $69 million follow-on offering, the refinancing of an $80 million credit facility, and a key strategic acquisition. Prior to joining BioDelivery Services, Ms. Coelho served as the Chief Financial Officer of Balchem Corp., a specialty chemicals manufacturer for the human and animal health and nutrition markets. While there, she led a refinancing of an oversubscribed $700 million credit facility, the integration of Innovative Food Processors and completed the acquisition and integration of BioScreen Italy. Earlier positions held by Ms. Coelho include Chief Financial Officer and Chief Operating Officer at Diversey, Inc., a division of Sealed Air Corp., where she also led the carve out and transition of Diversey into an independent company, several senior financial leadership positions at Novartis Pharmaceuticals, and financial and general management positions of increasing responsibility in the U.S. and Brazil at Mars, Inc. Ms. Coelho earned a B.A. in International Studies and Economics, summa cum laude, from the School of International Service at The American University in Washington, D.C. and an M.B.A. from Instituto Brasileiro de Mercado do Capitais (IBMEC) in Rio de Janeiro, Brazil.
“Following the recently completed Series B financing, CinCor is well capitalized to advance its pipeline and conduct clinical trials for CIN-107 in a number of indications,” said Ms. Coelho. “I am excited to join CinCor and I look forward to driving CinCor’s development so that we can advance CIN-107 through clinical trials and, if approved, provide access to patients and address significant unmet needs.”
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 highly selective, oral small molecule inhibitor of aldosterone synthase, is in clinical development for the treatment of hypertension and primary aldosteronism. CinCor has raised approximately $193 million to date in two private financings.
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, in development 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:
Media:
Robert Flamm, Ph.D. / Harrison Wong
212-213-0006 ext. 364 / 316
rflamm@burnsmc.com / hwong@burnsmc.com
Investors:
Lee Roth
212-213-0006, ext. 331
lroth@burnsmc.com
