CinCor Pharma to Sell to AstraZeneca for Approximately $1.8 Billion
San Diego – January 9, 2023 – Cooley advised CinCor Pharma, a clinical-stage biopharmaceutical company, on its definitive agreement to be acquired by AstraZeneca. M&A partners Rama Padmanabhan and Rowook Park and corporate partners Div Gupta and Sarah Sellers led the Cooley team. The team also included Christophe Beauduin, Izzy Lubarsky, Ali Murata, Ajay Athavale, Megan Drill, Melissa Meza, Trey Reilly, Amy Hallman Rice, Matt Silverman, Howard Morse, Sharon Connaughton, Rubin Waranch, Natasha Leskovsek, Phil Mitchell, Charity Williams, MaryBeth Shreiner, Betsy Lewis, Mark Windfeld-Hansen, Patrick Sharma, Karen Tsai, Heidi Erlacher, Kristopher Kleiner and Amber Ausley Parlow.
The upfront cash portion of the consideration represents a transaction value of approximately $1.3 billion, and the total consideration – including the contingent value right, if the milestone is achieved – will be approximately $1.8 billion.
Founded in 2018, CinCor has a mission to bring innovation to the pharmaceutical treatment of cardio-renal diseases. Its lead asset, baxdrostat, a highly selective, oral small-molecule inhibitor of aldosterone synthase, is in clinical development for the treatment of hypertension and primary aldosteronism.
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