AstraZeneca has committed $1.3 billion to acquire CinCor Pharma, a clinical-stage biotech whose lead drug candidate has the potential to treat hypertension in a new way. In other M&A news, Ipsen and Chiesi Farmaceutici each announced acquisitions of rare disease biotechs. All three deals come with contingent value rights.
Cincor Pharma drug baxdrostat failed its Phase 2 test, falling short of the goal of reducing blood pressure in patients with uncontrolled hypertension. But results in a subgroup of patients showed double-digit declines, which the company said could inform the design of a Phase 3 clinical trial.
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