TRexBio, a biotechnology company focused on decoding human tissue immune biology to develop novel therapeutics, has announced the successful completion of an oversubscribed $84 million Series B funding round. The financing was led by Delos Capital, with participation from new investors Avego BioScience Capital and Agent Capital, as well as existing investors Eli Lilly and Company, SV Health Investors, Pfizer Ventures, Johnson & Johnson Innovation – JJDC, Inc., Alexandria Venture Investments, and Polaris Partners.
Advancing TRB-061 and Expanding Pipeline
The proceeds from the Series B funding will primarily be used to advance TRexBio’s lead candidate, TRB-061, a purpose-engineered TNFR2 agonist. TRexBio anticipates initiating a Phase 1 clinical trial with TRB-061 in the first half of 2025. The trial will assess the safety, tolerability, and preliminary efficacy of TRB-061 in patients with immune-mediated diseases, including atopic dermatitis and ulcerative colitis. TNFR2 is a receptor highly expressed on suppressive regulatory T cells (Tregs) found in the skin and gut.
TRB-061 is designed to selectively agonize TNFR2, activating tissue-licensed Tregs to address a range of inflammatory and autoimmune conditions. By targeting TNFR2, TRB-061 aims to enhance the suppressive function of Tregs within affected tissues, promoting immune homeostasis and resolving inflammation.
The funding will also support the expansion of TRexBio’s pipeline, including early development of therapeutic candidate TRB-071. TRB-061 will be the second program to enter the clinic from TRexBio’s proprietary platform, following TRB-051, which is currently in Phase 1 under a collaboration with Lilly. TRexBio also has an ongoing collaboration with Johnson & Johnson for a preclinical program derived from its platform-based approach.
Leadership Perspectives
"We are grateful for the support and partnership of our investors, who share our vision for a differentiated approach to the treatment of autoimmune and inflammatory disease, one built on immune homeostasis rather than simply on suppression," said Johnston Erwin, CEO of TRexBio. "The funding from this Series B financing enables us to enter the clinic early next year with TRB-061 and to start exploring the breadth of potential therapeutic applications for this novel therapy. We continue to believe that our unique, tissue-focused approach will enable first- and best-in-class programs with potential to address significant unmet patient need."
Dr. Eric Huang, Partner at Delos, added, "Regulatory T cells—and TRexBio’s lead program TRB-061 in particular—offer the potential to unlock a new pillar of therapeutic care for autoimmune and inflammatory diseases. Our goal at Delos is to invest in companies with strong scientific foundations and clear visions for changing clinical standards of care. We have been impressed by TRexBio’s rigorous scientific approach and innovative platform for harnessing the natural function of regulatory T cells to establish immune balance. We’re proud to support TRexBio’s work, which we believe will soon translate into safe, durable, and effective medicines that improve the lives of many patients."
In conjunction with the funding, TRexBio announced the appointment of Eric Huang, PhD, Partner at Delos; Joel S. Marcus, Executive Chairman & Founder at Alexandria Venture Investments; and Eric Pham, PhD, Managing Director at Avego, to the company’s Board of Directors.
