FRANCE- Sanofi has completed its acquisition of Inhibrx, a clinical-stage biotech, for US$1.7 billion, gaining access to a diverse pipeline of new biologics targeting oncology and rare diseases.
This significant move highlights Sanofi’s commitment to expanding its rare disease portfolio and advancing potential best-in-class medicines.
The acquisition, initially announced in January 2024, culminated in Sanofi securing Inhibrx’s assets, including SAR447537 (formerly INBRX-101), a human recombinant protein developed for the treatment of alpha-1 antitrypsin deficiency (AATD), a rare genetic disorder.
SAR447537 holds promise in normalizing serum AAT levels and reducing inflammation, thereby halting the progressive deterioration of lung function in AATD patients.
According to Justine Ra, the acquisition’s completion on May 30 marks a significant milestone for Sanofi.
Former Inhibrx shareholders will receive US$30 per share of common stock, with an additional US$5 deferred cash payment per share contingent upon achieving a regulatory milestone.
With the acquisition finalized, Inhibrx’s common stock will no longer be traded on the NASDAQ Global Market.
This strategic move positions Sanofi to leverage Inhibrx’s innovative pipeline and bolster its capabilities to address critical unmet medical needs.
Sanofi’s rare disease pipeline is expected to benefit significantly from the addition of SAR447537.
According to GlobalData’s consensus forecasts, the drug is projected to generate total sales of US$826 million by 2030.
This acquisition aligns with Sanofi’s overarching mission to develop differentiated therapies and advance groundbreaking treatments in healthcare.
The acquisition process involved merging a Sanofi subsidiary with Inhibrx, with the latter continuing as an indirect, wholly-owned subsidiary of Sanofi.
Additionally, before the acquisition’s completion, Inhibrx spun off Inhibrx Biosciences, distributing 92% of its shares to Inhibrx common stockholders.
Inhibrx Biosciences began trading on the NASDAQ Global Market under the ticker “INXB” and subsequently “INBX” following the acquisition’s closure.
Lazard and Weil, Gotshal & Manges LLP served as Sanofi’s financial and legal advisors, respectively, while Centerview Partners LLC and Paul, Weiss, Rifkind, Wharton, and Garrison LLP provided advisory and legal services to Inhibrx.
Sanofi’s successful completion of the Inhibrx acquisition reinforces its commitment to advancing transformative therapies and strengthening its position as a leader in rare disease treatment.
With SAR447537 in its portfolio, Sanofi is poised to make significant strides in addressing today’s and tomorrow’s healthcare challenges.
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