TRex Bio has filed a preliminary prospectus for an initial public offering of about 8.3 million common shares expected to be priced between $14 and $16 apiece, according to a filing with the US Securities and Exchange Commission Monday.

TRex Bio said Eli Lilly (LLY) has indicated an interest buying shares of the company during the IPO, and that Eli Lilly's stake will not exceed 19.9% when combined with the shares it already owns.

Underwriters were granted an option for a period of 30 days to purchase up to 1.25 million additional shares, TRex Bio said.

The clinical-stage biopharmaceutical company said it expects net proceeds of about $111.3 million, which will be used to advance the clinical development of TRB-061 and TRB-071 as well as for working capital and general corporate purposes.

The company has applied to list its common stock on the Nasdaq Global Select Market under the symbol "TRXB," the filing showed.