TRex Bio, a biotechnology company specializing in immune-modulating therapies, has announced the successful completion of an $84 million Series B financing round. The funding will primarily support the advancement of TRex Bio's pipeline, with a focus on TRB-061, a drug candidate targeting atopic dermatitis and ulcerative colitis. This investment underscores the growing interest in regulatory T cell (Treg)-based therapies for autoimmune and inflammatory conditions.
Advancing TRB-061 to Phase 1 Trials
TRB-061 is designed to treat atopic dermatitis and ulcerative colitis and is slated to enter Phase 1 clinical trials in the first half of next year. The drug targets tumor necrosis factor receptor 2 (TNFR2), a receptor found on Tregs in the skin and gut. By activating Tregs through TNFR2, TRB-061 aims to modulate the immune response and reduce inflammation in affected tissues.
Treg-Focused Approach to Immune Modulation
TRex Bio distinguishes itself through its focus on activating Tregs, a subset of immune cells crucial for maintaining immune homeostasis and preventing excessive inflammation. Unlike some other companies that are developing cell therapies involving Tregs, TRex Bio is developing drugs that can activate Tregs. According to Johnston Erwin, TRex’s CEO, the company’s technology allows it to better study how Tregs behave in human tissue, which then informs its design of drugs that can work in new ways.
Strategic Partnerships and Prior Milestones
TRex Bio has established strategic partnerships with major pharmaceutical companies, including Eli Lilly and Johnson & Johnson. Earlier this year, TRex Bio received milestone payments from Lilly when a licensed drug entered clinical testing and from J&J when that company exercised its option on a potential new medicine. These collaborations provide TRex Bio with valuable resources and validation for its technology platform.
Investment Landscape in Immune Disease Therapies
The Series B round was led by Delos Capital, and included eight other venture firms and corporate venture arms, among them Lilly, J&J and Polaris Partners. Venture capital firms have invested about $2.8 billion in immune drug developers so far this year, according to BioPharma Dive data. The immune disease drug market is highly competitive, with existing therapies like TNF inhibitors and JAK inhibitors generating significant revenue. However, there remains a need for more targeted and effective treatments with improved safety profiles. TRex Bio's Treg-focused approach represents a promising avenue for addressing this unmet need.
