AstraZeneca announces takeover bid for the acquisition of CinCor Pharma, Inc.

AstraZeneca is launching a tender offer through a subsidiary to buy all outstanding shares of CinCor Pharma, Inc. (CinCor), a clinical-stage biopharmaceutical company based in the United States, for $26 per share in cash at closing, plus a non-tradable contingent value right of $10 per share in cash payable upon a specified regulatory submission for a baxdrostat product. CinCor will become an AstraZeneca subsidiary when the tender offer is successfully completed. The tender offer is subject to several requirements, including the offering of at least one more than 50% of CinCor's outstanding shares, the obtaining of appropriate regulatory clearances, and other customary considerations.

AstraZeneca is a global biopharmaceutical company focused on the research, development, and marketing of prescription medications in Cancer, Rare Disorders, and Biopharmaceuticals, including Cardiovascular, Renal & Metabolism, and Respiratory & Immunology. AstraZeneca, headquartered in Cambridge, UK, operates in over 100 countries, with millions of people worldwide benefiting from its revolutionary medications. Beliefs and expectations of AstraZeneca and CinCor, as well as statements about the benefits sought in AstraZeneca's purchase of CinCor, the possible effects of the acquisition across both AstraZeneca and CinCor, the possibility of any revocation of the acquisition agreement, and the expected benefits and success of baxdrostat and any combination product.

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