Home Inhibrx Biosciences' OX40 Agonist INBRX-106 Attracts Interest from Top 10 Pharma Giants Ahead of Major BD Deal

Inhibrx Biosciences' OX40 Agonist INBRX-106 Attracts Interest from Top 10 Pharma Giants Ahead of Major BD Deal

Apr 25, 2026 11:22 CST Updated 11:22
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Disclaimer: Due to limited proficiency, errors are inevitable, and some information may not be the most up-to-date. Comments are welcome to point out any issues. This article is only for the introduction of drugs related to healthcare.Non-therapeutic program recommendations (if applicable); This article does not constitute any investment advice.




PharmaCircleMonitoringShowIndicates:Recently,Inhibrx Biosciences Inc. has garnered significant attention from the capital markets and multinational pharmaceutical companies.

(The previous in-depth article by PharmaCircle is worth a look:Spin-off Listing 2.0: This Company Sets an Example for Biotech Capital Exit

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https://inhibrx.com/inbrx-106/


INBRX-106 is a hexavalent (6-valent) OX40-targeted protein therapeutic antibody developed by Inhibrx Biosciences Inc. As a T-cell co-stimulatory agonist, it activates CD4+ and CD8+ memory T cells in a dose-dependent manner to enhance the body's anti-tumor immune response. A randomized Phase II/III clinical trial is currently underway to evaluate INBRX-106 as a monotherapy and in combination with Merck & Co., Inc.'s Keytruda for unresectable or metastatic squamous cell carcinoma of the head and neck. Interim data show that the objective response rate of the combination therapy is superior to Keytruda alone. The company plans to release interim objective response rate data from this trial in Q2 2026 and disclose progression-free survival data at the ESMO 2026 Congress in Q4.


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New Inhibrx Biosciences holds two late-stage aces, DR5 and OX40, and continues to focus on oncology.

It is reported that the R&D product in question has already attracted attention from multiple multinational pharmaceutical companies, including U.S.-based Merck & Co., Inc., Germany's Merck KGaA, and Japan's Ono Pharmaceutical Co., Ltd., which have initiated early discussions. The negotiations for potential transactions are still in the preliminary stages, with overall valuation and final cooperation terms heavily dependent on subsequent critical clinical data readouts.Previously, Inhibrx sold INBRX-101 to Sanofi S.A. in January 2024.. Later split to establish New Inhibrx, focusing on advancing the development of core pipelines such as INBRX-106 and INBRX-109. The market has high expectations for the transaction value related to INBRX-106, and this asset is also considered to have significant clinical potential to enhance the efficacy of PD-1 inhibitors.

AnotherEli Lilly and Co.、AstraZeneca Plc、Pfizer Inc.、Johnson & JohnsonPharmaceutical companies such as Johnson & Johnson and AstraZeneca participated in the early negotiations.


Inhibrx was founded in 2010 by five Scripps Research Institute postdocs, including Mark Lappe and Brendan Eckelman.In its early days, the company earned service fees by customizing high-difficulty antibodies for large pharmaceutical enterprises.In 2018, Elpiscience, a Chinese startup, aimed to introduce an immune checkpoint project and secured the Greater China rights for ES101 (PD-L1×4-1BB) and ES102 (OX40), making it one of the fastest cross-border BD deals in the industry that year. Elpiscience is currently in the IPO stage, and we look forward to their further progress.


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Few Companies Left in the Research of OX40 Agonists, New Breakthroughs Needed


References:

PharmaCircle Data;

Moxie Pharma pharma.bcpmdata.com (formerly Pharma Data Cloud);

https://inhibrx.com/pipeline/;

http://www.marketscreener.com;

https://www.businesswire.com;

www1.hkexnews.hk/;

; etc.






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