Sanofi announces that it has entered into a definitive agreement to acquire Inhibrx, a company specializing in the development of a broad portfolio of novel biologic drug candidates, following the spin-off of the company and the separation of its non-INBRX-101 assets.

The French healthcare group explains that INBRX-101 could enable the treatment of alpha-1-antitrypsin deficiency, a rare inherited disease that mainly affects the lungs and leads to progressive tissue deterioration.

For each Inhibrx share, Inhibrx shareholders will receive $30 in cash, a five-dollar contingent value right and 0.25 shares in a new publicly listed company that will retain the non-INBRX-101 assets (New Inhibrx).

Sanofi's acquisition of Inhibrx is subject to the demerger transaction leading to the creation of New Inhibrx and other customary closing conditions. Both companies expect to close the transaction in the second quarter of 2024.

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