Viking in PIPE Investment in Inhibrx

Cleary Gottlieb represented Viking Global Investors (Viking) in a PIPE investment in Inhibrx Inc. (Inhibrx), a clinical-stage biopharmaceutical company dedicated to the development of therapeutics for oncology and rare diseases.

The PIPE generated gross proceeds of approximately $200 million to Inhibrx and was limited to certain of Inhibrx’s existing investors, which included participation from Viking, RA Capital Management, Perceptive Advisors, and TCG Crossover.

The transaction was announced on August 29, 2023.

Inhibrx is a clinical-stage biopharmaceutical company focused on developing a broad pipeline of novel biologic therapeutic candidates in oncology and orphan diseases. Inhibrx utilizes diverse methods of protein engineering to address the specific requirements of complex target and disease biology, including its proprietary protein engineering platforms.

Viking is a global investment firm that manages over $38 billion of capital across public equity, private equity, and credit and structured capital strategies. Viking has more than 275 employees, including more than 45 investment professionals, across five offices: Greenwich, New York, Hong Kong, London, and San Francisco.

For more information, please see the press release here.