Sanofi snaps rare disease asset in $2.2 billion merger deal with Inhibrx

French pharma major Sanofi (Euronext: SAN) has entered into a definitive agreement to acquire US biotech Inhibrx (Nasdaq: INBX) following the spin-off of non-INBRX-101 assets into ‘New Inhibrx’. Shares of the US firm rose 6.9% pre-market to $35.62 on the news.

The companies said the total transaction value, combining the upfront cash portion, contingent value payment, and debt assumption, was estimated at $2.2 billion.

INBRX-101 is a human recombinant protein that holds the promise of allowing alpha-1 antitrypsin deficiency (AATD) patients to achieve normalization of serum AAT levels with less frequent (monthly versus weekly) dosing. AATD is an inherited rare disease characterized by low levels of AAT protein, predominantly affecting the lung with progressive deterioration of the tissue. INBRX-101 may help to reduce inflammation and prevent further deterioration of lung function in affected individuals.