Sanofi has announced that it will be acquiring clinical-stage biopharmaceutical company Inhibrx and its alpha-1 antitrypsin deficiency (AATD) candidate for approximately $2.2bn.
Estimated to affect 80,000 to 100,000 people in the US, AATD is an inherited rare disease characterised by low levels of AAT protein, which protects the lungs and liver from inflammation.
As a result, patients are at an increased risk of developing pulmonary disease, defined by progressive loss of lung tissue and function.
Inhibrx’s INBRX-101 is a human recombinant protein that works by inhibiting neutrophil elastase, an enzyme responsible for lung tissue damage in AATD patients.
The candidate “holds the promise” of allowing AATD patients to achieve normalisation of serum AAT levels with less frequent (monthly versus weekly) dosing, Sanofi said, adding that it could also help to reduce inflammation and prevent further deterioration of lung function.
INBRX-101 has already completed an early-stage study, which demonstrated positive results in terms of safety and pharmacokinetics. A phase 2 trial to further evaluate its potential in AATD has also started enrolling patients.
Houman Ashrafian, head of research and development at Sanofi, said: “The addition of 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.
“… INBRX-101 will complement our approach to deploy research and development efforts in key areas of focus and address the needs of the underserved AATD patients and communities.”
Inhibrx will spin off its non-INBRX-101 assets, including its immuno-oncology pipeline, into a newly formed entity, New Inhibrx. This will continue to operate under the Inhibrx name.
Under the terms of the agreement, Sanofi will acquire all outstanding shares of Inhibrx for $30 per share in cash, representing an equity value of approximately $1.7bn. Inhibrx’s shareholders will also receive one contingent value right equal to $5 and 0.25 shares of New Inhibrx per Inhibrx share.
The announcement comes less than two months after Sanofi and artificial intelligence (AI) specialist Aqemia entered into a multi-year research collaboration worth $140m to discover small molecule drug candidates across several therapeutic areas.
The company also partnered with BioMap, another AI specialist, last October to accelerate drug discovery for biotherapeutics, with the deal potentially worth over $1bn.