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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Related Contacts
Rowook Park  Partner San Diego
Rama Padmanabhan  Partner San Diego
Div Gupta  Partner New York
Sarah Sellers  Partner New York
Christophe Beauduin  Special Counsel New York
Alessandra Murata  Partner Palo Alto
Ajay Athavale  Associate San Francisco
Megan Drill  Associate San Diego
Melissa Meza  Associate San Diego
Trey Reilly  Associate New York
Amy Hallman Rice  Special Counsel San Diego
Matthew D. Silverman  Special Counsel Los Angeles – Santa Monica
Howard Morse  Partner Washington, DC
Sharon Connaughton  Special Counsel Washington, DC
Rubin Waranch  Associate Washington, DC
Natasha Leskovsek  Of Counsel Washington, DC
Phil Mitchell  Partner New York
Charity Williams  Partner San Diego
MaryBeth Shreiner  Associate Reston
Elizabeth Lewis  Senior Counsel Washington, DC, Reston
Mark Windfeld-Hansen  Senior Counsel Palo Alto
Patrick Sharma  Associate Los Angeles – Santa Monica, Los Angeles – Downtown
Karen Tsai  Special Counsel Washington, DC
Heidi A. Erlacher  Partner in Charge – Boston Boston
Kristopher Kleiner  Special Counsel Colorado
Amber Ausley Parlow  Associate San Francisco
Ryan Sansom  Partner Boston
Stephanie Gentile  Partner New York
Sarah Lightdale  Partner New York
Aric Wu  Partner New York
Christopher Kimball  Partner Washington, DC
Nyron J. Persaud  Partner New York, Chicago
Helenanne Connolly  Partner Reston
Stella Sarma  Special Counsel Brussels, London
Stacey A. Bradford  Special Counsel Washington, DC
Christine Graham  Special Counsel London, Brussels
Dillon Martinson  Special Counsel Washington, DC
Lindsey O'Crump  Associate Washington, DC
Vivian Tsai  Associate Los Angeles – Santa Monica, Los Angeles – Downtown
Arman Sagart  Associate San Diego
Daniel Gillon  Associate San Diego
Barry Kuang  Associate Boston
Rajdeep Roger Bains  Associate San Diego
Michael Tiab  Associate San Diego
Alexander Fullman  Associate New York
Amanda Gonzalez Burton  Associate New York
Grace Hunter  Associate Washington, DC
Kindall G. Jackson  Associate Washington, DC
Xixi Sun  Associate Boston
Sarah Curry  Associate New York
Carly Mitchell  Associate Washington, DC
Jennifer Shanley  Special Counsel New York
Wyatt Kernell  Associate New York
Allison Kutner  Associate New York