REG - Arecor Therapeutics - Arecor announces update on INBRX-101

Arecor TherapeuticsAnnouncement

23/01/2024 17:00

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RNS Number : 6673A  Arecor Therapeutics PLC  23 January 2024

Arecor Therapeutics plc

("Arecor" or the "Company")

 

ARECOR ANNOUNCES UPDATE ON INBRX-101

 

-      Sanofi to acquire Inhibrx's AATD therapy INBRX-101, which
incorporates a novel formulation developed under a license agreement using
Arecor's Arestat™ technology, for up to $2.2 billion

-      Terms of Arecor's license agreement are unchanged. Arecor remains
entitled to further payments on achievement of certain development, regulatory
and commercial milestones along with annual technology access fees post
commercialisation

 

Cambridge, UK, 23 January 2024: Arecor Therapeutics plc (AIM: AREC), the
biopharmaceutical group advancing today's therapies to enable healthier lives,
notes the news announced today from Inhibrx, Inc. (Nasdaq: INBX) and Sanofi
(Nasdaq: SNY) that the companies have entered into a definitive agreement
under which 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").

 

INBRX-101 incorporates a novel enhanced formulation developed by Arecor, using
the Company's patented technology, Arestat™, under a license agreement
entered into by Arecor and Inhibrx in December 2020. In November 2023
(https://otp.tools.investis.com/clients/uk/arecor_therapeutics_plc/rns/regulatory-story.aspx?cid=2671&newsid=1730810)
, Arecor announced that, under the terms of its license agreement, a milestone
payment from Inhibrx had been triggered. The terms of the license agreement
remain unchanged and, following the acquisition, Arecor remains entitled to
further payments on the achievement of certain development, regulatory and
commercial milestones along with annual technology access fees post
commercialisation. The FDA has granted orphan-drug designation to INBRX-101
for the treatment of AATD and an initial read-out from the ongoing
registration-enabling trial is expected to occur in late 2024.

 

Sarah Howell, Chief Executive Officer of Arecor, said: "Following on from the
recent commercialisation of AT220, which is now royalty-bearing for Arecor,
the acquisition of Inhibrx for INBRX-101 by Sanofi, announced today, is a
further endorsement of the Arestat™ platform. Sanofi is a global
pharmaceutical leader with a 30-year heritage in rare diseases and this
acquisition highlights both the value of this novel therapy for patients and
its future commercial potential.  We believe they are well placed to complete
the late-stage development of this novel medicine and, ultimately, bring it to
patients in need. We congratulate the Inhibrx team and look forward to working
with Inhibrx and Sanofi, as well as updating the market on future developments
from this programme."

 

INBRX-101 is an optimized recombinant human AAT-Fc fusion protein, for
treatment of patients with emphysema due to AATD. AATD is an underdiagnosed
inherited orphan genetic disease that can cause serious lung disease in adults
and/or liver disease at any age, affecting an estimated 100,000 patients in
the United States. INBRX-101 has the potential to significantly reduce the
frequency of annual infusions, eliminate lung decline from Alpha-1 Disease,
and could significantly improve patient quality of life compared to the
current standard of care.

-ENDS-

 

 

 

For more information, please contact:

 

 Arecor Therapeutics plc                          www.arecor.com (http://www.arecor.com/)
 Dr Sarah Howell, Chief Executive Officer         Tel: +44 (0) 1223 426060

                                                  Email: info@arecor.com

 Susan Lowther, Chief Financial Officer           Tel: +44 (0) 1223 426060

                                                  Email: info@arecor.com

 Mo Noonan, Communications                        Tel: +44 (0) 7876 444977

                                                  Email: mo.noonan@arecor.com

 Panmure Gordon (UK) Limited (NOMAD and Broker)   Tel: +44 (0) 20 7886 2500

 Freddy Crossley, Emma Earl (Corporate Finance)

 Rupert Dearden (Corporate Broking)

 ICR Consilium
 Chris Gardner, David Daley, Lindsey Neville      Tel: +44 (0) 20 3709 5700

                                                  Email: arecor@consilium-comms.com

 

 

Notes to Editors

 

About Arecor

Arecor Therapeutics plc is a globally focused biopharmaceutical company
transforming patient care by bringing innovative medicines to market through
the enhancement of existing therapeutic products. By applying our innovative
proprietary technology platform, Arestat™, we are developing an internal
portfolio of proprietary products in diabetes and other indications, as well
as working with leading pharmaceutical and biotechnology companies to deliver
therapeutic products. The Arestat™ platform is supported by an extensive
patent portfolio.

 

For further details please see our website, www.arecor.com
(http://www.arecor.com)

 

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