Full Press Release Details
Sanofi to acquire Inhibrx, Inc., adding potential
best-in-class rare disease asset for Alpha-1 Antitrypsin Deficiency to pipeline
Paris, January 23, 2024. Sanofi and Inhibrx, Inc. ( Inhibrx ), a publicly traded
clinical-stage biopharmaceutical company focused on developing a broad pipeline of novel biologic therapeutic candidates, have entered into a definitive agreement under which Sanofi has agreed to acquire Inhibrx following the spin-off of non-INBRX-101 assets into New Inhibrx. INBRX-101 is a human recombinant protein
that holds the promise of allowing Alpha-1 Antitrypsin Deficiency (AATD) patients to achieve normalization of serum AAT levels with less frequent (monthly vs. weekly) dosing. AATD is an inherited rare disease
characterized by low levels of AAT protein, predominantly affecting the lung with progressive deterioration of the tissue. INBRX-101 may help to reduce inflammation and prevent further deterioration of lung
function in affected individuals.
Head of Research and Development, Sanofi
INBRX-101 as a high potential asset to our rare disease portfolio reinforces our strategy to commit to differentiated and potential
best-in-class products. With our expertise in rare diseases and growing presence in immune-mediated respiratory conditions, INBRX-101 will complement our approach to
deploy R&D efforts in key areas of focus and address the needs of the underserved AATD patients and communities.
INBRX-101 has successfully
completed a Phase 1 trial, demonstrating positive results in terms of safety and pharmacokinetics and is currently enrolling a Phase 2 clinical trial to further evaluate the potential of INBRX-101 as a
treatment for AATD. If successful, INBRX-101 could offer a significant improvement in the treatment options and quality of life for AATD patients.
Under the terms of the merger
agreement, Sanofi and Inhibrx have agreed to the following:
New Inhibrx will retain
non-INBRX-101 assets, notably including its immuno-oncology pipeline (INBRX-109,
INBRX-106, INBRX-105), as well as Inhibrx assets not related to INBRX-101 and Inhibrx s employees. It will be led by Mark P.
Lappe, Founder and CEO of Inhibrx, as Chairman and CEO of New Inhibrx, and will continue to operate under the Inhibrx name.
unanimously approved by both the Sanofi and Inhibrx Boards of Directors.
Sanofi s acquisition of Inhibrx is subject to the completion of the New
Inhibrx spin-off transaction and other customary closing conditions, including receipt of regulatory approvals and approval by Inhibrx s shareholders. The companies expect the transaction to close in the
Sanofi expects to finance the transaction with available cash resources.
Lazard is acting as exclusive financial advisor to Sanofi and Weil, Gotshal & Manges LLP is acting as its legal counsel. Centerview Partners LLC is
acting as exclusive financial advisor to Inhibrx and Paul, Weiss, Rifkind, Wharton and Garrison LLP is serving as legal counsel.
INBRX-101 is a recombinant human AAT-Fc fusion protein that is under development for the treatment of
alpha-1 antitrypsin deficiency (AATD). INBRX-101 works by inhibiting neutrophil elastase, an enzyme responsible for lung tissue damage in AATD patients.
AATD is an inherited rare disease of the lungs and liver (~15% of cases) characterized by low levels of AAT protein, a neutrophil elastase inhibitor, causing
progressive deterioration of the tissue.
Inhibrx is a clinical-stage biopharmaceutical company focused on developing a broad pipeline of novel biologic therapeutic candidates in oncology and orphan
diseases. Inhibrx utilizes diverse methods of protein engineering to address the specific requirements of complex target and disease biology, including its proprietary protein engineering platforms.
Inhibrx is listed on NASDAQ: INBX
We are an innovative global healthcare company, driven by one purpose: we chase the miracles of science to improve people s lives. Our team, across some
100 countries, is dedicated to transforming the practice of medicine by working to turn the impossible into the possible. We provide potentially life-changing treatment options and life-saving vaccine protection to millions of people globally, while
putting sustainability and social responsibility at the center of our ambitions.
Sanofi is listed on EURONEXT: SAN and NASDAQ: SNY
Sandrine Guendoul | + 33 6 25 09 14
Sally Bain | + 1 617 834 6026 | sally.bain@sanofi.com
Timothy Gilbert | + 1 516 521 2929 | timothy.gilbert@sanofi.com
Eva Schaefer-Jansen | + 33 7 86
80 56 39 | eva.schaefer-jansen@sanofi.com
Arnaud Del pine | + 33 6 73 69 36 93 | arnaud.delepine@sanofi.com
Corentine Driancourt | + 33 6 40 56 92 21 | corentine.driancourt@sanofi.com
Felix Lauscher | + 1 908 612 7239 | felix.lauscher@sanofi.com
Tarik Elgoutni| + 1 617 710 3587 | tarik.elgoutni@sanofi.com
Nathalie Pham | + 33 7 85 93 30 17 | nathalie.pham@sanofi.com
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Inhibrx Forward-Looking Statements
Inhibrx cautions you that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These
statements are based on Inhibrx s current beliefs and expectations. These forward-looking statements include, but are not limited to, statements regarding: Inhibrx s and its investigators judgments and beliefs regarding the strength
of Inhibrx s pipeline and the observed safety and efficacy to date of its therapeutic candidates; whether a trial is registration-enabling; future clinical development of Inhibrx s therapeutic candidates, including any potential for
approval or accelerated approval or implication that the results of earlier clinical trials or studies will be representative of later clinical trials. Actual results may differ from those set forth in this press release due to the risks and
uncertainties inherent in Inhibrx s business, including, without limitation, risks and uncertainties regarding: the initiation, timing, progress and results of its preclinical studies and clinical trials, and its research and development
programs; its ability to advance therapeutic candidates into, and successfully complete, clinical trials; its interpretation of preclinical data and initial, interim or preliminary data from its clinical trials, including interpretations regarding
disease control and disease response; the timing or likelihood of regulatory filings and approvals; the successful commercialization of its therapeutic candidates, if approved; the pricing, coverage and reimbursement of its therapeutic candidates,
if approved; its ability to utilize its technology platform to generate and advance additional therapeutic candidates; the implementation of its business model and strategic plans for its business and therapeutic candidates; its ability to
successfully manufacture therapeutic candidates for clinical trials and commercial use, if approved; its ability to contract with third-party suppliers and manufacturers and their ability to perform adequately; the scope of protection it is able to
establish and maintain for intellectual property rights covering its therapeutic candidates; its ability to enter into strategic partnerships and the potential benefits of these partnerships; its estimates regarding expenses, capital requirements
and needs for additional financing and financial performance; and other risks described from time to time in the Risk Factors section of its filings with the U.S. Securities and Exchange Commission, including those described in its
Annual Report on Form 10-K as well as its Quarterly Reports on Form 10-Q, and supplemented from time to time by its Current Reports on Form 8-K. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Inhibrx undertakes no obligation to update these statements to reflect events that
occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of