Inhibrx Draws Takeover Interest at $9 Billion, Reuters Says (2)

Inhibrx Biosciences Inc., which is developing an experimental cancer treatments, has drawn takeover interest from Merck & Co. Inc. and other drugmakers, according to a Reuters report.

The company is exploring a joint spinoff of its drug, INBRX-106 and a second experimental cancer treatment. If clinical trials on those medications succeed, the tie-up could have a combined value of more than $9 billion, according to the report, which cited people familiar with the matter.

Inhibrx is currently valued at about $2.2 billion. The biotech company’s shares surged as much as 85% when markets opened in New York on ...