In its first M&A move of 2024, Sanofi is grabbing what it sees as a potential best-in-class therapy for its rare disease pipeline by snapping up Inhibrx in a $1.7 billion deal.
While Sanofi is nominally acquiring the whole of Inhibrx, it will only keep the lead drug — a Phase II human recombinant protein designed to treat alpha-1 antitrypsin deficiency, or AATD — while all the other programs get spun out into a separate company called New Inhibrx. The French drugmaker will also retain an 8% equity stake in New Inhibrx.
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