TRex Bio, Inc. (TRexBio), a clinical-stage biotechnology company headquartered in South San Francisco, California, has closed an oversubscribed USD 50 million financing round. The company focuses on the discovery and development of precision immunoregulatory medicines by leveraging tissue-targeted regulatory T cell (Treg) biology. This funding round is intended to support the expansion of its clinical-stage immunology pipeline and the advancement of its proprietary Deep Biology Platform.
The financing included participation from new investors Janus Henderson Investors, Balyasny Asset Management L.P., and Affinity Asset Advisors. Existing investors also participated, including Alexandria Venture Investments, Avego BioScience Capital, Delos Capital, Eli Lilly and Company, Johnson & Johnson Innovation – JJDC, Inc., Pfizer Ventures, Polaris Partners, and SV Health Investors. The company said the proceeds will be used to further its pipeline of clinical and preclinical programs, specifically supporting the continued clinical development of TRB-061 and advancing its TRB-071 and TRB-081 programs toward the clinic.
The company’s lead candidate, TRB-061, is a TNFR2 agonist currently in a Phase Ia/b clinical trial for the treatment of atopic dermatitis. TRB-061 is designed to selectively activate Tregs in barrier tissues, such as the skin. The company said the single ascending dose portion of the study is complete, with the multiple ascending dose portion now underway. Additionally, TRexBio is developing TRB-071 and TRB-081, with Phase I clinical trials for these candidates expected to initiate in 2027. These programs target various inflammatory and autoimmune conditions.
The company’s portfolio is built on its Deep Biology Platform, attracting both Eli Lilly and Johnson & Johnson to sign multi-year research collaborations. Lilly’s January 2023 deal with TRex is worth over USD 1.1 billion and has produced TRB-051, a modulator of immune effector cells, which Lilly put into clinical study in 2024. Lilly also participated in the launch/Series A funding round for TRex held in 2021.