TRex Bio raises $84M to compete in crowded immune drug field

BioPharma Dive November 13, 2024
Gwendolyn Wu

The California biotech, which is partnered with Eli Lilly and J&J, plans to use the funds to advance one of its wholly owned drugs for eczema into Phase 1 testing.

Dive Brief:

• TRex Bio, a California biotechnology company that’s partnered with Eli Lilly and Johnson & Johnson, has raised $84 million in a Series B round meant to advance its immune drug research, the company said Wednesday.
• The new funds will be used to push the company’s second drug candidate, dubbed TRB-061, into a Phase 1 clinical trial in the first half of next year. The drug is designed to treat atopic dermatitis and ulcerative colitis.
• The round adds to two milestone payments TRex earned earlier this year from...

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