STAT+: Sanofi scoops up U.S. biotech Inhibrx for up to $2.2 billion as it seeks to bolster pipeline
As it expands its pipeline of inflammation-targeting drugs, Sanofi said Tuesday it was acquiring California-based Inhibrx.
LONDON — In a bid to expand its pipeline of inflammation-targeting drugs, Sanofi said Tuesday it was acquiring California-based Inhibrx in a deal worth up to $2.2 billion.
The core of the deal is Inhibrx’s experimental therapy for AATD, a disease that progressively damages the lungs and liver. The medicine, INBRX-101, is designed to reduce inflammation and stave off further damage to the tissue. Inhibrx has completed Phase 1 testing of the drug and is enrolling patients in a Phase 2 trial.
Inhibrx’s other drug candidates, including its line of cancer-targeting immunotherapies, will be portioned out into a new company that will continue to be called Inhibrx. Mark Lappe, the founder and CEO of Inhibrx, will lead the spun-out company.
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