Amid Boom Days for Biotech, Inhibrx Lines Up Another IPO Effort
Summary
The La Jolla, CA-based company, which is developing drugs for cancer and a rare respiratory disease, has again applied for a listing on the Nasdaq, a filing that comes more than a year after it first outlined an IPO plan. The drug is designed to stimulate DR5, a member of the tumor necrosis factor (TNF) receptor superfamily, which plays a role in immune response. Based on preclinical data, Inhibrx says that both drug candidates could be used to complement or replace the use of a class of approved cancer immunotherapies called checkpoint inhibitors. Italy’s Chiesi Group last year acquired the option to exclusively license global rights to the AAT program, excluding the US and Canada. The company was founded in 2010 by Mark Lappe, Brendan Eckelman, and Quinn Deveraux, the company’s CEO, chief scientific officer, and head of early research, respectively.
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