Sanofi Completes Inhibrx Acquisition for $1.7 Billion
Sanofi has finalized its acquisition of Inhibrx, Inc. for approximately $1.7 billion. This move injects SAR447537, a novel protein therapeutic for alpha-1 antitrypsin deficiency, into Sanofi's rare disease pipeline.
Paris, May 30, 2024 – Sanofi announced today the completion of its acquisition of Inhibrx, Inc. The transaction, valued at approximately $1.7 billion, brings SAR447537, a promising therapeutic candidate, into Sanofi's rare disease portfolio.
SAR447537 is a recombinant protein designed to treat alpha-1 antitrypsin deficiency (AATD), a rare inherited condition primarily affecting the lungs. The drug candidate offers the potential for less frequent dosing, with monthly administration compared to existing weekly treatments, aiming to normalize serum AAT levels in patients and mitigate lung tissue deterioration.
Under the terms of the acquisition, former Inhibrx shareholders received $30.00 per share in cash, plus a contingent value right of $5.00 per share upon achievement of a regulatory milestone. Prior to closing, Inhibrx completed a spin-off of Inhibrx Biosciences, distributing 92% of its shares to existing Inhibrx stockholders, with Inhibrx retaining the remaining 8%.
This acquisition reinforces Sanofi's commitment to developing treatments for serious diseases. The addition of SAR447537 is expected to enhance Sanofi's offerings in the rare disease market, addressing a significant unmet medical need for AATD patients.