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Inhibrx Inc. and Sanofi SA have agreed to a deal worth up to $2.2 billion, whereby the latter’s Aventis Inc. subsidiary will acquire INBRX-101, an optimized, recombinant alpha-1 antitrypsin (AAT) augmentation therapy undergoing a registrational trial for AAT deficiency (AATD), an inherited genetic disorder caused by single nucleotide variants in the SERPINA1 gene.
French healthcare company Sanofi has agreed to buy drug development project INBRX-101 from parent company Inhibrx Inc for $2.2 billion. INBRX-101 is an experimental drug in clinical trials for treating Alpha-1 Antitrypsin Deficiency. Sanofi aims to boost its rare disease business with this acquisition. Inhibrx shareholders will receive cash, a contingent value right (CVR), and shares in New Inhibrx. Sanofi will assume third-party debts and fund New Inhibrx, while retaining an 8% equity interest.