Press Release: Sanofi completes acquisition of Inhibrx, Inc.
30 May 2024 - 11:01PM
Sanofi completes acquisition of Inhibrx, Inc.
Paris, May 30, 2024. Sanofi
announced today the completion of its acquisition of Inhibrx, Inc.
(“Inhibrx”). 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 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.
SAR447537 may 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 $30.00
per share in cash, which represents a total equity value of
approximately $1.7 billion (on a fully diluted basis), as well as
one contingent value right per share to receive $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.
Prior to the closing of the acquisition, Inhibrx
completed the spin-off of Inhibrx Biosciences, Inc. (“Inhibrx
Biosciences”), distributing 92% 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, pursuant to an internal
reorganization. Inhibrx continues to own the remaining 8% 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”.
As of May 30, 2024, Inhibrx common stock will cease
to be traded on the NASDAQ Global Market and will be subsequently
deregistered.
Lazard acted as exclusive financial advisor to
Sanofi and Weil, Gotshal & Manges LLP acted as its legal
counsel. Centerview Partners LLC acted as exclusive financial
advisor to Inhibrx and Paul, Weiss, Rifkind, Wharton and Garrison
LLP served as legal counsel.
About SanofiWe are an innovative global
healthcare company, driven by one purpose: we chase the miracles of
science to improve people’s lives. Our team, across the world, 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
Media RelationsSandrine
Guendoul | + 33 6 25 09 14 25
| sandrine.guendoul@sanofi.comEvan Berland |
+1 215 432 0234 | evan.berland@sanofi.comVictor
Rouault | + 33 6 70 93 71 40
| victor.rouault@sanofi.comTimothy
Gilbert | + 1 516 521 2929 |
timothy.gilbert@sanofi.com
Investor RelationsThomas Kudsk
Larsen |+ 44 7545 513 693 |
thomas.larsen@sanofi.comAlizé
Kaisserian | + 33 6 47 04 12 11 |
alize.kaisserian@sanofi.comArnaud
Delépine | + 33 6 73 69 36 93 |
arnaud.delepine@sanofi.comCorentine
Driancourt | + 33 6 40 56 92 21 |
corentine.driancourt@sanofi.comFelix
Lauscher | + 1 908 612 7239 |
felix.lauscher@sanofi.comTarik Elgoutni| + 1 617
710 3587 | tarik.elgoutni@sanofi.comNathalie Pham
| + 33 7 85 93 30 17 | nathalie.pham@sanofi.com
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Sanofi’s annual report on Form 20-F for the year ended December 31,
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