Oxford Finance LLC has provided a $10 million credit facility to Inhibrx Inc, a clinical-stage biotechnology company. The financing, which was secured before Inhibrx went public, will be used to provide growth capital. Inhibrx’s pre-IPO backers included Viking Global Investors LP, RA Capital, Lilly Asia Ventures, ArrowMark Partners and WuXi Biologics.
ALEXANDRIA, Va. and SAN DIEGO, Calif., August 25, 2020/PRNewswire/—Oxford Finance LLC (“Oxford”), a specialty finance firm that provides senior debt to life sciences and healthcare services companies worldwide, has announced that on July 15, 2020, it closed a $10 million senior secured term loan with Inhibrx, Inc. (or “the Company”) (Nasdaq: INBX), a clinical-stage biotechnology company focused on developing a broad pipeline of novel biologic therapeutic candidates. The funds, which were secured prior to the Company’s recent initial public offering, will provide general growth capital as Inhibrx aims to evolve into a commercial-stage biotechnology company.
Inhibrx combines a deep understanding of target biology with innovative protein engineering, proprietary discovery technologies, and an integrative approach to research and development to design highly differentiated therapeutic candidates. The Company has a pipeline of four programs in Phase 1 clinical trials targeting cancer and respiratory diseases.
“This closing represents Oxford’s second opportunity with Inhibrx,” said Christopher A. Herr, senior managing director at Oxford. “The Company is steadily advancing in its clinical pipeline, with its broad-based suite of platform technologies the Company can generate antibodies across several therapeutic areas, including oncology and respiratory illnesses. We are thrilled to continue supporting their promising growth and development.”
About Oxford Finance LLC
Oxford Finance is a specialty finance firm providing senior secured loans to public and private life sciences and healthcare services companies worldwide. For over 20 years, Oxford has delivered flexible financing solutions to its clients, enabling these companies to maximize their equity by leveraging their assets. In recent years, Oxford has originated over $6 billion in loans, with lines of credit ranging from $5 million to $150 million. Oxford is headquartered in Alexandria, Va., with additional offices in San Diego, Calif.; Palo Alto, Calif.; and the greater Boston and New York City areas. For more information, visit https://oxfordfinance.com/
Inhibrx is a clinical-stage biotechnology company focused on developing a broad pipeline of novel biologic therapeutic candidates. Inhibrx utilizes diverse methods of protein engineering to address the specific requirements of complex target and disease biology, including its proprietary sdAb platform. The Inhibrx pipeline is focused on oncology and orphan diseases. Inhibrx has collaborations with Elpiscience, bluebird bio, Celgene and Chiesi.
For more information, please visit https://inhibrx.com/.