Mineralys closes $118 million oversubscribed Series B financing

8 June 2022

USA-based clinical-stage biotech Mineralys Therapeutics today announced the completion of an oversubscribed and up-sized $118 million Series B financing.

Mineralys plans to use the proceeds to continue to advance MLS-101, a highly selective aldosterone synthase inhibitor. MLS-101 is currently being evaluated in a Phase II clinical trial, called Target-HTN, for patients with uncontrolled hypertension. The company anticipates releasing the top-line results of Target-HTN later this year.

MLS-101 (formerly MT-4129) is a highly selective and potent aldosterone synthase inhibitor, licensed from Japan’s Mitsubishi Tanabe Pharma (TYO: 4508) in April last year, that is being investigated for the treatment of hypertension. MLS-101 significantly reduces plasma aldosterone levels by selectively inhibiting the CYP11B2 pathway responsible for synthesis of aldosterone, without the untoward effects of blocking the mineralocorticoid receptor.

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