Sanofi gains rare disease therapy in acquisition of Inhibrx for US$1.7 billion
Sanofi completed the acquisition of the clinical-stage biotech company Inhibrx in late May 2024 after settling on a US$1.7 billion buyout. The acquisition brings with it a rare disease therapy to bollster Sanofi's pipeline.
Sanofi has recently completed the acquisition of the biotech company Inhibrx, which was initiated at the beginning of this year.
Inhibrx is a clinical-stage biotechnology company, focusing on developing biologics for the treatment of cancers and rare diseases.
The agreement, whereby Sanofi proposed to purchase Inhibrx for US$1.7 billion has now been completed, and broken down for shareholders, who will receive US$30 per share in cash for common stock of Inhibrx. The shareholders will also qualify to receive US$5 in deferred cash payments for each share at the point at which a regulatory landmark is achieved following the takeover.
The main aim of the acquisition was so that Sanofi could grow their rare disease offering, namely by adding SAR447537 (formerly INBRX-101) to their rare disease pipeline.
SAR447537 is a human recombinant protein used in the treatment of individuals with alpha-1 antitrypsin deficiency (AATD). The drug is designed to maintain safe levels of alpha-1 antitrypsin in those suffering from the rare disease, and reduce inflammation and deterioration of the lungs.
The treatment follows a more spread out dosing regime, where levels of AAT in patients can be controlled at a normal level by dosing on a monthly basis as opposed to a weekly basis. This helps to improve the quality of life of those with the disease.
Inhibrx’s other assets have been acquired by the a spin-off company, Inhibrx Biosciences, which was completed just before the closing of the acquisition by Sanofi. The assets include INBRX-109 and INBRX-1061. Inhibrx Biosciences will trade on the NASDAQ Global Market under the ticker ‘INBX’, as the Inhibrx common stock will be deactivated.
According to experts the acquisition is forecasted to earn Sanofi US$826 million in sales in 2030.
Sources
Pharmaceutical Technology. Sanofi completes the $1.7bn acquisition of Inhibrx. [Date accessed 31/05/2024] www.pharmaceutical-technology.com/news/sanofi-completes-the-1-7bn-acquisition-of-inhibrx/?cf-view
Sanofi. Press Release: Sanofi completes acquisition of Inhibrx, Inc. [Date accessed 03/06/2024] www.sanofi.com/en/media-room/press-releases/2024/2024-05-30-13-01-38-2890833
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