Inhibrx Biosciences Secures Loan Agreement with Oxford Finance to Enhance Clinical Programs

Inhibrx Biosciences Secures Significant Financing with Oxford Finance



Inhibrx Biosciences, Inc. (Nasdaq: INBX), a promising player in the biopharmaceutical industry, has recently made headlines with the announcement of a loan agreement with Oxford Finance LLC. This strategic move allows Inhibrx to access up to $150 million through a loan and security agreement designed to bolster its ongoing clinical trials and enhance its pipeline of therapeutic candidates.

The healthcare company, focusing on innovative treatments, has been diligently working on two key programs: INBRX-109 and INBRX-106. Both candidates are currently in clinical trials, and the funding from Oxford Finance is expected to provide the necessary resources for optimal development as data readouts approach later this year. Kelly Deck, CFO of Inhibrx, stated, "This enables us strategic flexibility post data readouts expected later this year for our INBRX-109 and INBRX-106 programs."

Oxford Finance’s partnership with Inhibrx spans several years, and this latest funding agreement demonstrates their commitment to supporting the company as it navigates the complexities of the biopharmaceutical landscape. Christopher Herr, Senior Managing Director at Oxford, expressed enthusiasm about this partnership: "We are proud to further our long-standing partnership with Inhibrx. The INBRX-109 and INBRX-106 programs have shown highly promising clinical results, and we look forward to supporting Inhibrx as it advances its pipeline and further develops these innovative therapies."

The terms of the loan agreement include a five-year facility with an initial disbursement of $100 million made on January 13, 2025, with a potential additional $50 million available, contingent upon the company's request and the lenders' discretion. As part of the agreement, Inhibrx also issued warrants for the purchase of common stock valued at approximately 2% of the initial loan — effectively solidifying the lender's stake in the company’s success.

Inhibrx, established in January 2024, has emerged as a clinical-stage biopharmaceutical developer with a robust pipeline targeting complex diseases through proprietary protein engineering platforms. The focus of their research is not only to advance INBRX-109 and INBRX-106 but also to explore additional therapeutic candidates leveraging innovative technologies.

The clinical results from the INBRX-109 and INBRX-106 programs have been well received, generating high expectations among investors and stakeholders. With data readouts set for later this year, the partnership with Oxford Finance places Inhibrx in a strong position to advance its research and development endeavors.

Inhibrx's clinical pipeline reflects a commitment to utilizing multivalent formats to optimize therapeutic functions targeting particular diseases. As the biopharmaceutical sector continues to evolve, organizations like Inhibrx are fundamental in transforming innovative concepts into viable treatments, with potential impacts on patient outcomes.

The financing from Oxford Finance emerges at a critical juncture for Inhibrx, highlighting the importance of maintaining strategic partnerships in the dynamic life sciences sector. As Inhibrx pushes forward with its ambitious goals, this funding could alter the trajectory of its clinical programs, enhancing its ability to deliver promising new therapies to market.

Overall, the collaboration between Inhibrx and Oxford Finance stands as a testament to the synergies that can emerge when innovative biopharmaceutical firms partner with specialized financial institutions capable of providing the necessary resources to support groundbreaking clinical research. As the company prepares for significant clinical milestones in 2025, the investment signals confidence in Inhibrx's future and its potential contributions to the field of biotechnology.

For more detailed information about Inhibrx Biosciences and its clinical programs, visit Inhibrx's official website.

Topics Health)

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