AstraZeneca PLC (LSE:AZN) has announced it will acquire US-based biopharmaceutical firm CinCor for approximately US$1.8bn in an effort to boost its treatments of cardiorenal diseases.
As part of the deal, AstraZeneca will also acquire CinCor’s cash and marketable securities, valued at US$522mln late September.
Astra said acquiring CinCor will bolster its cardiorenal pipeline by adding CinCor's candidate drug, baxdrostat,” which is currently being trialled.
Cardiorenal diseases often stem from other conditions such as hypertension (high blood pressure), diabetes and severe vascular disease with issues in one organ affecting others.
Marc de Garidel, CinCor chief executive, said: “We believe it offers the prospect of accelerating the development timeline and expanding the breadth of benefits patients with cardiorenal diseases might obtain from baxdrostat.”
“Excess levels of aldosterone are associated with hypertension and several cardiorenal diseases, including chronic kidney disease and coronary artery disease,” added Mene Pangalos, executive vice president of AstraZeneca’s research and development wing.
There is “a high unmet medical need” for cardiorenal disease patients, with its acquisition of CinCor set to "complement" its strategy of targeting this, Panaglos added.