Inhibrx, a Phase 1 biotech using protein engineering to develop targeted therapies for cancer and rare diseases, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering. The company previously filed to raise $75 million in June 2019 before withdrawing in November.
The company's lead candidate INBRX-109, is a tetravalent death receptor 5, or DR5, agonist being evaluated in patients diagnosed with chondrosarcoma and mesothelioma, two difficult-to-treat cancers. INBRX-109 is currently in a Phase 1 trial and has enrolled 75 patients to date.
The La Jolla, CA-based company was founded in 2017 and booked $6 million in sales for the 12 months ended June 30, 2020. It plans to list on the Nasdaq under the symbol INBX. Inhibrx filed confidentially on June 26, 2020. Jefferies, Evercore ISI and Credit Suisse are the joint bookrunners on the deal. No pricing terms were disclosed.
