On August 25, 2020 Oxford Finance LLC ("Oxford"), a specialty finance firm that provides senior debt to life sciences and healthcare services companies worldwide, reported 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 (Press release, Oxford Finance, AUG 25, 2020, View Source [SID1234564016]). 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.

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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."