Inhibrx to be acquired by Sanofi for approximately $1.7bn

Sanofi and Inhibrx, Inc have announced that they have entered into a definitive agreement for Sanofi to acquire Inhibrx following the spin-off of non-INBRX-101 assets into New Inhibrx.
INBRX-101 is a human recombinant protein for the treatment of patients with Alpha-1 Antitrypsin Deficiency (AATD), allowing them to achieve normalisation of serum AAT levels with less frequent dosing.
The protein has already successfully completed a phase 1 trial, in which it demonstrated positive safety and pharmacokinetics results. Enrolment for the phase 2 trial is currently underway.
Under terms of the agreement, Sanofi is expected to pay an approximate total value of $1.7bn or $30 per share, as well as further milestone payments. New Inhibrx will retain non-INBRX-101 assets such as its immuno-oncology pipeline, however Sanofi will also gain an 8% equity stake in New Inhibrx.
Houman Ashrafian, head of research and development at Sanofi, commented: “The addition of INBRX-101 as a highpotentialassettoourrare disease portfolio reinforces our strategy to commit to differentiated and potential best-in-class products. With our expertise in rare diseases and growing presence in immune-mediated respiratory conditions, INBRX-101 will complement our approach to deploy R&D efforts in key areas of focus and address the needs of the underserved AATD patients and communities.”