Sanofi to buy INBRX-101 for $2.2B
La Jolla, CA & Paris, France, January 23, 2024 (Reuters) -- Sanofi (SASY.PA) has reached an agreement to acquire U.S. Inhibrx (INBX.O) in a transaction valued at up to $2.2 billion. This strategic move aims to enhance Sanofi's drug development portfolio by incorporating an experimental treatment for a rare genetic disease, namely Inhibrx's INBRX-101. Under the terms of the agreement, Sanofi will gain access to INBRX-101, currently progressing through the second phase of clinical trials. Simultaneously, Inhibrx's other experimental drugs will be spun off into a separate entity, with Sanofi retaining an 8% stake in the newly formed company. This transaction aligns with Sanofi's commitment to advancing its therapeutic offerings and expanding its presence in the biotechnology sector.
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