Sanofi has recently announced the complete acquisition of Inhibrx, Inc.

The acquisition adds SAR447537 (formerly INBRX-101) to Sanofi’s rare disease pipeline, underscoring the company’s commitment to pursuing differentiated and potential best-in-class medicines that build upon our existing strengths and capabilities.

SAR447537 is a human recombinant protein that holds the promise of allowing alpha-1 antitrypsindeficiency (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. SAR447537may help to reduce inflammation and prevent further deterioration of lung function in affected individuals.

The former holders of shares of Inhibrx common stock voted to approve the acquisition at a special meeting of stockholders on May 24, 2024. Upon the closing of the acquisition, former shareholders of Inhibrx became entitled to receive USD 30.00 per share in cash, which represents a total equity value of approximately USD 1.7 billion (on a fully diluted basis), as well as one contingent value right per share to receive USD 5.00 upon the achievement of a regulatory milestone.

 Sanofi completed its acquisition of Inhibrx through the merger of an indirect, wholly owned subsidiary of Sanofi with and into Inhibrx, with Inhibrx continuing as the surviving corporation and becoming an indirect, wholly-owned subsidiary of Sanofi.

Before the closing of the acquisition, Inhibrx completed the spin-off of Inhibrx Biosciences, Inc. (“Inhibrx Biosciences”), distributing 92 percent of Inhibrx Biosciences’s shares to holders of shares of Inhibrx common stock as of May 17, 2024. Inhibrx Biosciences, which was a wholly owned subsidiary of Inhibrx prior to the distribution, acquired all of the assets of Inhibrx not related to SAR447537, which include INBRX-109 and INBRX-1061, as well as all Inhibrx employees, under an internal reorganization.

Inhibrx continues to own the remaining 8 percent of Inhibrix Biosciences following the completion of the transactions. Inhibrx Biosciences began trading on the NASDAQ Global Market on May 30, 2024, under the ticker “INXB” and, beginning on May 31, 2024, will trade under the ticker “INBX”.