Sanofi has entered into a definitive agreement under which its subsidiary Aventis Inc. will acquire all 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 alpha-1 antitrypsin deficiency (AATD). 
 
Inhibrx is a clinical-stage biopharmaceutical company focused on developing biologic therapeutic candidates in oncology and orphan diseases leveraging its protein engineering platforms.

Inhibrx’s non-101 discovery pipeline, including INBRX-105, INBRX-106, INBRX-109, and its corporate infrastructure, will be spun out from the company into a new company, Inhibrx Biosciences, Inc.
 
Sanofi will acquire all outstanding shares of Inhibrx through a merger in an aggregate transaction value of approximately $2.2 billion. Inhibrx will be led by Mark Lappe as Chairman and CEO, as well as the other members of the current management team of Inhibrx. 
 
Sanofi’s acquisition of Inhibrx is subject to the completion of the new Inhibrx spin-off transaction and other customary closing conditions.