TRex Bio, Inc.
TRex Bio, a clinical-stage biopharmaceutical company focused on tissue Treg biology for autoimmune and inflammatory diseases, filed an S-1 to raise capital via an IPO on Nasdaq under the symbol "TRXB." The company's lead wholly-owned candidate, TRB-061 (TNFR2 agonist), is in a Phase 1a/b trial with topline data from the Phase 1b portion in moderate-to-severe atopic dermatitis expected in mid-2027. A second candidate, TRB-071 (CD30 agonist), is in IND-enabling studies with a Phase 1 trial in IBD anticipated in H1 2027. Lilly has indicated interest in purchasing shares up to 19.9% of post-offing
- TRB-061, a TNFR2 agonist for atopic dermatitis, is in Phase 1b with topline data expected mid-2027.
- TRB-071, a CD30 agonist for IBD, is in IND-enabling studies with Phase 1 expected in H1 2027.
- Lilly collaboration candidate TRB-051 is advancing to a Phase 2a lupus trial in H2 2026.
- The company has applied to list on Nasdaq under the symbol 'TRXB.'
- Lilly has indicated interest in purchasing shares up to 19.9% of post-offering outstanding stock.
Price data unavailable.
A pure-play tissue Treg biology company entering public markets with two wholly-owned clinical-stage assets, a validated Lilly partnership advancing to Phase 2a, and near-term catalysts across the管线.
Joins a wave of immunology-focused biotech IPOs targeting tissue-specific Treg modulation, a field validated by Lilly's advancement of TRB-051 to Phase 2a. Competes with established players in AD (Sanofi/Regeneron's Dupixent) and IBD (AbbVie's Skyrizi, J&J's Stelara).
No approved products; all candidates are clinical or preclinical. Heavy reliance on TNFR2 and CD30 programs — failure of either would materially impair the pipeline. Lilly collaboration is a key validation but TRB-051 is wholly Lilly-controlled; TRexBio has no development or commercialization rights
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