Oxford Finance Announces $10 Million Credit Facility with Inhibrx, Inc.

Rhea-AI Summary

Oxford Finance has closed a $10 million senior secured term loan to Inhibrx (Nasdaq: INBX), a clinical-stage biotech company. This funding, finalized on July 15, 2020, is aimed at supporting Inhibrx's growth as it transitions into a commercial-stage biotechnology firm. Inhibrx is focused on developing innovative biologic therapies, with a pipeline of four Phase 1 clinical trials targeting cancer and respiratory diseases. Oxford previously partnered with Inhibrx, highlighting confidence in its clinical advancements.

Positive

• Secured a $10 million senior secured term loan to support growth.
• Pipeline includes four programs in Phase 1 clinical trials targeting cancer and respiratory diseases.
• Oxford Finance's repeat partnership indicates confidence in Inhibrx's progress.

Negative

• None.

ALEXANDRIA, Va. and SAN DIEGO, Aug. 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/

About Inhibrx

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/.

Media Contacts
Selma Bašić
Oxford Finance LLC
703-519-4900 Tel
media@oxfordfinance.com

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SOURCE Oxford Finance LLC

FAQ

What is the recent loan amount secured by Inhibrx (INBX)?

Inhibrx secured a $10 million senior secured term loan.

When was the loan to Inhibrx announced?

The loan was announced on August 25, 2020.

What is the focus of Inhibrx's clinical pipeline?

Inhibrx's clinical pipeline targets cancer and respiratory diseases.

Who provided the loan to Inhibrx?

The loan was provided by Oxford Finance.

How many programs are currently in clinical trials at Inhibrx?

Inhibrx has four programs in Phase 1 clinical trials.