Inhibrx deal with Chiesi for rare disease candidate INBRX-101

California clinical-stage biotech Inhibrx has entered into an agreement with privately held Italian drugmaker Chiesi Farmaceutici, granting the latter an option to exclusively license, develop and commercialize INBRX-101 outside of the USA and Canada effective upon a $10 million equity investment in Inhibrx.

The option deal provided for up to $162.5 million in upfront, cost sharing and milestone payments, and escalating royalties into the high teens assuming exercise of the option. Inhibrx will retain the rights to develop and commercialize INBRX-101 in the USA and Canada, the largest AATD markets.

INBRX-101 is an Fc-fusion protein based therapeutic candidate expected to enter clinical development in the middle of this year. INBRX-101 is a modified recombinant version of human alpha-1 antitrypsin, or AAT, for the treatment of patients with alpha-1 antitrypsin deficiency, or AATD. AATD is a rare genetically defined respiratory disease characterized by progressive destruction of lung tissue. INBRX-101 has the potential to benefit AATD patients with enhanced efficacy and less frequent dosing.