Arecor Therapeutics PLC Arecor announces update on INBRX-101 (6673A)
24 January 2024 - 3:58AM
UK Regulatory
TIDMAREC
RNS Number : 6673A
Arecor Therapeutics PLC
23 January 2024
Arecor Therapeutics plc
("Arecor" or the "Company")
ARECOR ANNOUNCES UPDATE ON INBRX-101
- Sanofi to acquire Inhibrx's AATD therapy INBRX-101, which
incorporates a novel formulation developed under a license
agreement using Arecor's Arestat (TM) technology, for up to $2.2
billion
- Terms of Arecor's license agreement are unchanged. Arecor
remains entitled to further payments on achievement of certain
development, regulatory and commercial milestones along with annual
technology access fees post commercialisation
Cambridge, UK, 23 January 2024: Arecor Therapeutics plc (AIM:
AREC), the biopharmaceutical group advancing today's therapies to
enable healthier lives, notes the news announced today from
Inhibrx, Inc. (Nasdaq: INBX) and Sanofi (Nasdaq: SNY) that the
companies have entered into a definitive agreement under which
Sanofi will acquire all the assets and liabilities associated with
INBRX-101, an optimized, recombinant alpha-1 antitrypsin ("AAT")
augmentation therapy currently in a registrational trial for the
treatment of patients with alpha-1 antitrypsin deficiency
("AATD").
INBRX-101 incorporates a novel enhanced formulation developed by
Arecor, using the Company's patented technology, Arestat(TM), under
a license agreement entered into by Arecor and Inhibrx in December
2020. In November 2023 , Arecor announced that, under the terms of
its license agreement, a milestone payment from Inhibrx had been
triggered. The terms of the license agreement remain unchanged and,
following the acquisition, Arecor remains entitled to further
payments on the achievement of certain development, regulatory and
commercial milestones along with annual technology access fees post
commercialisation. The FDA has granted orphan-drug designation to
INBRX-101 for the treatment of AATD and an initial read-out from
the ongoing registration-enabling trial is expected to occur in
late 2024.
Sarah Howell, Chief Executive Officer of Arecor, said:
"Following on from the recent commercialisation of AT220, which is
now royalty-bearing for Arecor, the acquisition of Inhibrx for
INBRX-101 by Sanofi, announced today, is a further endorsement of
the Arestat(TM) platform. Sanofi is a global pharmaceutical leader
with a 30-year heritage in rare diseases and this acquisition
highlights both the value of this novel therapy for patients and
its future commercial potential. We believe they are well placed to
complete the late-stage development of this novel medicine and,
ultimately, bring it to patients in need. We congratulate the
Inhibrx team and look forward to working with Inhibrx and Sanofi,
as well as updating the market on future developments from this
programme."
INBRX-101 is an optimized recombinant human AAT-Fc fusion
protein, for treatment of patients with emphysema due to AATD. AATD
is an underdiagnosed inherited orphan genetic disease that can
cause serious lung disease in adults and/or liver disease at any
age, affecting an estimated 100,000 patients in the United States.
INBRX-101 has the potential to significantly reduce the frequency
of annual infusions, eliminate lung decline from Alpha-1 Disease,
and could significantly improve patient quality of life compared to
the current standard of care.
-ENDS-
For more information, please contact:
Arecor Therapeutics plc www.arecor.com
Dr Sarah Howell, Chief Executive Tel: +44 (0) 1223 426060
Officer Email: info@arecor.com
Susan Lowther, Chief Financial Officer Tel: +44 (0) 1223 426060
Email: info@arecor.com
Mo Noonan, Communications Tel: +44 (0) 7876 444977
Email: mo.noonan@arecor.com
Panmure Gordon (UK) Limited (NOMAD Tel: +44 (0) 20 7886 2500
and Broker)
Freddy Crossley, Emma Earl (Corporate
Finance)
Rupert Dearden (Corporate Broking)
ICR Consilium
Chris Gardner, David Daley, Lindsey Tel: +44 (0) 20 3709 5700
Neville Email: arecor@consilium-comms.com
Notes to Editors
About Arecor
Arecor Therapeutics plc is a globally focused biopharmaceutical
company transforming patient care by bringing innovative medicines
to market through the enhancement of existing therapeutic products.
By applying our innovative proprietary technology platform,
Arestat(TM), we are developing an internal portfolio of proprietary
products in diabetes and other indications, as well as working with
leading pharmaceutical and biotechnology companies to deliver
therapeutic products. The Arestat(TM) platform is supported by an
extensive patent portfolio.
For further details please see our website, www.arecor.com
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