US-based immunology therapeutics developer TRexBio added $26m to close an $85m series A round featuring pharmaceutical firms Eli Lilly, Johnson & Johnson and Pfizer on Tuesday.
Investment firm Polaris Partners led the extension, which included Eli Lilly and corporate venturing units Johnson & Johnson Innovation – JJDC and Pfizer Ventures.
The second tranche was filled out by the venture capital subsidiary of life sciences real estate investment trust Alexandria Real Estate Equities, as well as investment firm Laurion Capital and asset manager SV Health Investors.
Founded in 2018, TRexBio is developing immunobiology drugs that target cancer and inflammatory diseases by helping patients’ immune systems to rebuild immune homeostasis.
The funding came in the wake of a multi-year research collaboration and licensing agreement the company had forged with Janssen Pharmaceutica, a subsidiary of Johnson & Johnson.
Eli Lilly, Johnson & Johnson Innovation – JJDC, Pfizer Ventures, Alexandria Venture Investments and SV Health had all already backed the $59m first close in June 2021.
TrexBio chief executive Johnston Erwin said: “TRexBio is working to redefine how immune-mediated diseases are treated.
“We have made important progress over the last three years towards this goal growing what started as a big idea into an innovative discovery engine that has generated a robust portfolio and supports two big pharma collaborations. Our focus now is on supporting and progressing all of these programmes towards the clinic.”
