CinCor Pharma

CinCor Pharma was a clinical-stage biopharmaceutical company founded in 2018 and headquartered in Cincinnati, Ohio. The company was focused on developing treatments for cardio-renal diseases, with its lead asset baxdrostat (CIN-107) — a highly selective, oral small molecule inhibitor of aldosterone synthase, the enzyme responsible for aldosterone synthesis in the adrenal gland. Baxdrostat was in clinical development for treatment-resistant hypertension and primary aldosteronism, addressing patient populations with significant unmet medical needs. CinCor conducted its IPO in January 2022, raising $193.6 million, and subsequently completed a follow-on offering generating net proceeds of $242.9 million. In total, the company raised approximately $418 million in funding before being acquired by AstraZeneca in February 2023 for an implied equity value of $1.3 billion (total deal value up to $1.8 billion including milestone payments). The acquisition enabled AstraZeneca to combine baxdrostat with its existing chronic kidney disease medication, Farxiga.