France’s Sanofi to buy U.S. drugs project INBRX-101 for about $2.2 billion

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Sanofi

France’s Sanofi to buy U.S. drugs project INBRX-101 for about $2.2 billion

Jan 23 (Reuters) – French healthcare company Sanofi has agreed to buy U.S. biotech firm Inhibrx in a deal valued at up to $2.2 billion, bolstering its drug development portfolio with an experimental treatment for a rare genetic disease.
 
The companies said the deal will give Sanofi access to Inhibrx’s INBRX-101, currently in the second of three phases of clinical trials, while its other experimental drugs will be spun off into a separate company, with Sanofi retaining an 8% stake.