Inhibitex

About Inhibitex

Inhibitex, Inc. operated as a clinical-stage biopharmaceutical company, directing its resources toward the creation of treatments for severe infectious diseases. Incorporated in Delaware in May 1994 and headquartered in Alpharetta, Georgia, the company was co-founded by Joseph Patti. The company's strategic focus was primarily on developing nucleotide and nucleoside analogs to combat the hepatitis C virus (HCV).

The company's principal asset was INX-189, an oral nucleotide polymerase (NS5B) inhibitor that entered Phase II development. This compound demonstrated potent antiviral activity and a high barrier to resistance. Beyond its lead candidate for HCV, Inhibitex's clinical-stage pipeline included FV-100, a nucleoside inhibitor for reducing shingles-associated pain, and Aurexis, a humanized monoclonal antibody for treating serious S. aureus bloodstream infections. In 2007, the company acquired FermaVir Pharmaceuticals, Inc., which added FV-100 and a series of preclinical antiviral nucleoside analogues to its pipeline. The company's business model was centered on the research and development of these assets, with the ultimate goal of commercialization and generating revenue through product sales, licensing agreements, or being acquired. The company had not yet generated commercial revenues from its product candidates.

A significant milestone in the company's history occurred in January 2012, when Bristol-Myers Squibb announced its definitive agreement to acquire Inhibitex. The all-cash transaction was valued at approximately $2.5 billion, with Bristol-Myers Squibb offering $26.00 per share. This move was a strategic effort by Bristol-Myers Squibb to bolster its portfolio of investigational medicines for hepatitis C and invest in its long-term growth in the virology sector. Following the tender offer, Inhibitex became a wholly-owned subsidiary of Bristol-Myers Squibb in February 2012. However, in August 2012, Bristol-Myers Squibb halted the development of the lead drug, then coded BMS-986094 (formerly INX-189), due to safety concerns that arose in clinical trials.