TRex Bio prices $117M IPO with Lilly as largest shareholder
The Treg-activating biotech sold 8.3 million shares at $14 and begins Nasdaq trading Friday under ticker TRXB.
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By Tom Reyes · Markets Editor
Oct 9 06:59 ETSource: BioPharma Dive
The wire
- 01TRex Bio priced a $117 million IPO at $14 per share, the low end of its range, with Eli Lilly holding roughly 24% of shares before the offering.
- 02Lead candidate TRB-061 is a fusion protein targeting TNF receptor 2 on regulatory T cells, aimed at skin and gut inflammation without broad immunosuppression.
- 03Phase 1 topline data are due in 2027; a second candidate, TRB-071 against CD30, could enter testing next year.
From the source
Read at biopharmadive.comTRex Bio prices $117M IPO to support immune drug work
Eli Lilly is the largest equity holder in TRex, which is developing drugs that treat immunological conditions by activating “Treg” cells.
