Saturday, June 22, 2024

Sanofi Expands Rare Disease Pipeline with Inhibrx Acquisition

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Sanofi has completed its acquisition of Inhibrx, Inc., marking a significant expansion of its rare disease pipeline. This acquisition, finalized on May 30, 2024, integrates SAR447537 (formerly INBRX-101), a promising therapeutic candidate for alpha-1 antitrypsin deficiency (AATD), into Sanofi’s portfolio. SAR447537, a human recombinant protein, aims to normalize serum AAT levels with less frequent dosing, potentially improving lung function in AATD patients.

The acquisition was approved by Inhibrx shareholders during a special meeting on May 24, 2024. As a result, former shareholders received $30.00 per share in cash, totaling approximately $1.7 billion in equity value, along with a contingent value right to receive an additional $5.00 upon achieving a regulatory milestone. This strategic acquisition underscores Sanofi’s commitment to developing best-in-class medicines for rare diseases.

Sanofi completed the acquisition through the merger of its indirect, wholly-owned subsidiary with Inhibrx. Following the merger, Inhibrx became an indirect, wholly-owned subsidiary of Sanofi. Prior to the acquisition, Inhibrx spun off Inhibrx Biosciences, distributing 92% of its shares to existing Inhibrx shareholders. Inhibrx Biosciences now operates independently, focusing on assets unrelated to SAR447537, including INBRX-109 and INBRX-1061.


Market Implications and Trading

Following the acquisition, Inhibrx common stock ceased trading on the NASDAQ Global Market as of May 30, 2024, and will be deregistered. Inhibrx Biosciences began trading on the NASDAQ Global Market under the ticker “INXB” on May 30, 2024, and will switch to “INBX” on May 31, 2024. This move signifies a new chapter for both Sanofi and Inhibrx Biosciences, enhancing focus on their respective therapeutic areas.

Lazard acted as the exclusive financial advisor to Sanofi, with Weil, Gotshal & Manges LLP serving as legal counsel. Centerview Partners LLC provided exclusive financial advisory services to Inhibrx, while Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as their legal counsel. These collaborations ensured a smooth and strategic acquisition process, aligning with Sanofi’s long-term goals.

Expanding Rare Disease Treatment Options

With the addition of SAR447537, Sanofi strengthens its position in the rare disease sector. SAR447537’s potential to normalize serum AAT levels with monthly dosing could significantly improve treatment adherence and patient outcomes. This acquisition aligns with Sanofi’s strategic focus on developing innovative therapies for rare diseases, addressing unmet medical needs, and enhancing patient quality of life.

The acquisition of Inhibrx and its promising therapeutic candidate, SAR447537, represents a substantial advancement in the treatment of alpha-1 antitrypsin deficiency. This rare genetic disorder, primarily affecting lung function, currently lacks effective treatment options. SAR447537’s monthly dosing schedule offers a significant improvement over existing weekly treatments, potentially reducing treatment burden and improving adherence.

Sanofi’s acquisition of Inhibrx exemplifies its strategic vision to lead in the rare disease sector. By integrating SAR447537 into its pipeline, Sanofi aims to address significant unmet medical needs, offering new hope to patients with alpha-1 antitrypsin deficiency. The company’s continued investment in innovative therapies highlights its commitment to advancing healthcare and improving patient outcomes.

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Sanofi’s acquisition of Inhibrx marks a pivotal moment in the company’s growth strategy, particularly in the rare disease sector. The addition of SAR447537 to Sanofi’s pipeline underscores its dedication to developing innovative, best-in-class treatments that address unmet medical needs. This acquisition not only expands Sanofi’s therapeutic portfolio but also reinforces its commitment to improving the lives of patients with rare diseases.

About Sanofi

Sanofi is a global healthcare company dedicated to transforming the practice of medicine through scientific innovation. Committed to improving lives, Sanofi offers life-changing treatment options and life-saving vaccines to millions worldwide. Sustainability and social responsibility are central to Sanofi’s mission, driving its efforts to provide advanced healthcare solutions globally.



Resource: Sanofi, May 30, 2024

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