Inhibrx Biosciences announces $500 million Oxford Finance credit facility, publicly discloses terms

Inhibrx Biosciences, Inc. (Nasdaq: INBX) announced on July 16, 2026 that it had entered a Second Amendment to its Loan and Security Agreement with Oxford Finance LLC, expanding the facility to an aggregate principal amount of up to $500.0 million.¹

The amendment adds a new tranche of up to $325.0 million in gross proceeds, with $100.0 million funded at signing as the Term C Loan and up to an additional $225.0 million available in increments of $50.0 million or more at the company's request and the lenders' discretion as the Term D Loan.¹ Before this amendment, the company had drawn $175.0 million under the facility.¹

In exchange for funding the Term C Loan, the company gave the lenders warrants for 21,457 shares of common stock priced at $93.21 per share, an amount equal to 2% of the Term C Loan's value.¹ Those warrants can be exercised immediately and remain exercisable for 10 years from issuance.¹

Inhibrx CFO Kelly Deck commented on the deal, saying the expanded partnership with Oxford reflects the lenders' confidence in the company's clinical pipeline, and that the capital allows the company to keep momentum on ozekibart (INBRX-109) and INBRX-106 as it awaits key data readouts.¹

The release also described the company's background, noting Inhibrx Biosciences was incorporated in January 2024 as a wholly-owned subsidiary of Inhibrx, Inc.¹ It added that following the sale of Inhibrx, Inc. and the INBRX-101 program to Sanofi, the company's current pipeline centers on ozekibart (INBRX-109) and INBRX-106, both built on multivalent formats designed to optimize agonist function.¹

The underlying 8-K filing had earlier laid out the mechanics of the deal, including the Poplar Therapeutics equity pledge and warrant terms, which remain consistent with what the press release now confirms publicly.