TRexBio Prices $117M IPO at $14 per Share
TRexBio, a clinical-stage biotechnology company backed by Eli Lilly (LLY:NYSE), priced its initial public offering (IPO) at $14 per share. The firm plans to offer 8.33 million shares to the public as part of a total fundraising target of approximately $117 million. TRexBio is focused on developing immunoregulatory medicines that target tissue regulatory T-cell biology, aiming to address unmet medical needs in autoimmune and inflammatory diseases. The IPO marks an important milestone for TRexBio, which has been working closely with Eli Lilly since its inception through a licensing agreement signed in 2019. The company aims to leverage the capital raised from this offering to advance clinical development of its pipeline candidates and support ongoing research efforts. This move is expected to attract investor interest due to growing demand for innovative therapies targeting immune-related diseases, as well as TRexBio's strategic partnership with a major pharmaceutical player.
Topics: Biotechnology Initial Public Offering (IPO) Stock Market