Cincor to be Acquired by AstraZeneca

Waltham-based, clinical-stage biopharm CinCor is slated to be acquired by British pharmaceutical giant AstraZeneca. Founded in 2018, CinCor’s mission is to bring innovation to the pharmaceutical treatment of cardio-renal diseases. Its lead asset, baxdrostat, is in clinical development for the treatment of hypertension.

Under the terms of the merger agreement, AstraZeneca will acquire all of CinCor’s outstanding shares for a price of $26 per share in cash at closing plus a non-tradable contingent value right of $10 per share in cash payable upon a specified regulatory submission of a baxdrostat product. The upfront cash portion of the consideration represents a transaction value of about $1.3 billion. The total consideration, if the baxdrostat milestone is achieved, would be about $1.8 billion. The acquisition is expected to close in the first quarter of 2023.

Baxdrostat 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, defined 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 116 million hypertensive patients. (Source: CinCor Website, 09 January, 2023)