San Diego Business Journal

La Jolla-based Inhibrx recently took in a $40 million investment from Viking Global Investors to advance a pipeline targeting cancer, infectious disease and orphan diseases.

Protein engineering underlies the company’s approach, with three drug candidates in phase 1 clinical trials and two expected to enter clinical trials later this year.

Viking Global Investors received a convertible promissory note in exchange for the $40 million. Since forming in 2010, Inhibrx said it has received $205 million, including raising $135 million in investor equity and debt, while taking in $70 million in licensing and grant payments.

CEO Mark Lappe co-founded the company. Previously he was the managing partner of Efficacy Biotech Fund.

Inhibrx said its sdAb platform enables superior monoclonal antibody and fusion protein approaches.