Sanofi Acquires Inhibrx for ~$2.2B, Adding INBRX-101 for Alpha-1 Antitrypsin Deficiency (AATD) to its Pipeline
Shots:
- Sanofi signed a definitive agreement to acquire Inhibrx following the spin-off of non-INBRX-101 assets into Inhibrx Biosciences. The transaction is expected to close by Q2’24
- As per the agreement, Sanofi will acquire all outstanding shares of Inhibrx for $30.0 per share in cash adding to an equity value of ~$1.7B, will pay Inhibrx’s outstanding third-party debt & will retain 8% equity in New Inhibrx through $200M investment
- Inhibrx’s shareholders will receive one non-transferable CVR per Inhibrx share entitling its holders to receive a deferred cash payment of $5/share CVR for a total CVR value of $800M (upon achieving regulatory milestones). The shareholders will also receive 0.25 share in New Inhibrx per Inhibrix share
Ref: Globe Newswire | Image: Inhibrx
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Shivani was a content writer at PharmaShots. She has a keen interest in recent innovations in the life sciences industry. She was covering news related to Product approvals, clinical trial results, and updates. We can be contacted at connect@pharmashots.com.
