Autoimmune and inflammatory disease drug company TreX Bio (TRX.US) applies to go public in the US and plans to raise up to 100 million US dollars

The Zhitong Finance App learned that TreX Bio, a biotech company focused on developing drugs for autoimmune and inflammatory diseases, submitted documents to the US Securities and Exchange Commission (SEC) on Friday to raise up to 100 million US dollars through an initial public offering (IPO).

TrEx Bio is a clinical-stage biopharmaceutical company dedicated to developing drugs that enhance regulatory T cell (Treg) function in inflamed human tissues. The goal is to restore immune balance and repair barrier damage rather than broadly suppressing the immune system. Its Deep Biology platform can map the function of Tregs in human skin, gut, and lung tissue to identify targets and verify them through proprietary in vitro Tregs models and high-throughput functional detection methods.

Its main drug candidate, TRB-061, is a TNFR2 agonist. It is currently in phase 1b clinical trials for the treatment of moderate to severe atopic dermatitis, and preliminary data is expected to be released in mid-2027. Another wholly-owned drug candidate TRB-071 targets CD30 to treat inflammatory bowel disease and is expected to enter phase 1 clinical trials in the first half of 2027. Eli Lilly is both an investor and discovery partner, and is currently advancing the third drug candidate discovered on the platform into phase 2a clinical trial for the treatment of lupus.

The South San Francisco, California-based company was founded in 2018 and plans to list on the NASDAQ under the ticker symbol “TRXB.” tREx Bio secretly submitted a listing application on June 26, 2026. J.P. Morgan Chase and Evercore ISI were co-underwriters for the deal. Pricing terms have not been disclosed.