Even with Eli Lilly's backing, it struggles to command a premium: TRex Bio (TRXB.US) prices its offering at the lower end of the $14 range.

Zhito Finance APP has learned that TRex Bio Inc., an early-stage biotechnology company focused on autoimmune and inflammatory diseases, raised $116.7 million through an IPO, with the issue price set at the lower end of its marketing range.