AstraZeneca completes acquisition of CinCor Pharma
AstraZeneca has finalized the acquisition of CinCor Pharma, a US-based biopharmaceutical company focused on treatments for resistant hypertension and chronic kidney disease. The deal enhances AstraZeneca's cardiorenal pipeline.
AstraZeneca announced the completion of its acquisition of CinCor Pharma, a clinical-stage biopharmaceutical company based in the United States. CinCor focuses on developing novel treatments for resistant and uncontrolled hypertension, as well as chronic kidney disease.
The acquisition integrates baxdrostat, an aldosterone synthase inhibitor (ASI), into AstraZeneca's cardiorenal portfolio. Baxdrostat is being developed to lower blood pressure in patients with treatment-resistant hypertension and is considered a potentially next-generation ASI due to its selectivity.
The deal was completed through a tender offer to purchase all outstanding shares of CinCor for approximately $1.3 billion upfront. An additional contingent value right, payable upon a specified regulatory submission of baxdrostat, could bring the total transaction value to approximately $1.8 billion.
This move strengthens AstraZeneca's capabilities in cardiorenal diseases, a field with high unmet medical needs. CinCor's shares will be delisted from the Nasdaq Stock Market.