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Inhibrx, Inc. shareholders will receive per share consideration of $30 per share in cash, a CVR equal to $5, plus 0.25 shares in New Inhibrx, a new publicly traded company that retains all non-101 assets of Inhibrx, Inc.
Sanofi to pay off Inhibrx's outstanding debt balance and capitalize New Inhibrx with $200 million in cash
SAN DIEGO, Jan. 23, 2024 /PRNewswire/ -- Inhibrx, Inc. (NASDAQ:INBX) ("Inhibrx," or the "Company") and Sanofi (NASDAQ:SNY) ("Sanofi") today announced that the companies have entered into a definitive agreement under which Aventis Inc., a Pennsylvania corporation (a subsidiary of Sanofi) will acquire all the assets and liabilities associated with INBRX-101, an optimized, recombinant alpha-1 antitrypsin ("AAT") augmentation therapy currently in a registrational trial for the treatment of patients with alpha-1 antitrypsin deficiency ("AATD"). Immediately prior to the closing of the merger, all non-101 assets and liabilities, including INBRX-105, INBRX-106, INBRX-109, Inhibrx's non-101 discovery pipeline and its corporate infrastructure, will be spun out from the Company into a new publicly traded company, Inhibrx Biosciences, Inc. ("New Inhibrx").
