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InflaRx raises EUR 31 million (US$ 34M) in a Series C financing round to foster complement inhibitor development

  • 2016

InflaRx, the bio­phar­ma­ceu­ti­cal com­pany devel­op­ing new ther­a­peu­tics in the ter­mi­nal com­ple­ment space, announced today that it has raised EUR 31 mil­lion (USD 34 mil­lion) in a Series C round. The financ­ing was com­posed of new investors such as Staid­son Hongkong Invest­ment Com­pany ltd. («STS»), inter­na­tional indus­trial investors and fam­ily offices as well as exist­ing investors. Pro­ceeds from the round will be used to advance clin­i­cal phase II devel­op­ment of the lead drug can­di­date IFX‑1, a first-in-class mon­o­clonal anti-com­ple­ment C5a anti­body, in var­i­ous acute and chronic inflam­ma­tory indi­ca­tions as well as the pre­clin­i­cal devel­op­ment of the fol­low-up pipeline-molecules. 

«InflaRx has made sig­nif­i­cant progress in the field of ter­mi­nal com­ple­ment C5a inhi­bi­tion, putting us in a lead posi­tion, glob­ally. In Jan­u­ary, we val­i­dated IFX‑1 in a Phase IIa clin­i­cal trial that pro­vided excel­lent data. This has been well accepted by our exist­ing and new share­hold­ers,» said Prof. Dr. Niels Riede­mann, founder and CEO of InflaRx. «We will use the pro­ceeds of this Series C financ­ing to develop our lead drug can­di­date IFX‑1 in dif­fer­ent inflam­ma­tory dis­ease indi­ca­tions with high unmet med­ical need and orphan drug poten­tial,» he added.

In Jan­u­ary 2016, InflaRx suc­cess­fully com­pleted its first clin­i­cal Phase IIa trial in patients suf­fer­ing from early sep­tic organ dys­func­tion; all pri­mary clin­i­cal end­points were met. In June 2016, the com­pany ini­ti­ated its sec­ond phase II trial of IFX‑1 in patients under­go­ing com­plex car­diac surgery.

«We have estab­lished long stand­ing research col­lab­o­ra­tions with inter­na­tion­ally rec­og­nized research groups in China and thus have built a strong net­work in the region. This has helped us to attract STS as a major new investor in our unique tech­nol­ogy», Prof. Ren­feng Guo, founder and CSO of InflaRx stated.

«Despite the very chal­leng­ing mar­ket con­di­tions, we have been able to bring together an inter­na­tional syn­di­cate of investors and fam­ily offices that believe in the tremen­dous poten­tial of our tech­nolo­gies. The pro­ceeds of this financ­ing will enable us to reach mul­ti­ple sig­nif­i­cant value inflec­tion points and gen­er­ate a vari­ety of strate­gic options,» com­mented Arnd Christ, CFO of InflaRx.

About IFX‑1:

IFX‑1 is a first-in-class mon­o­clonal anti-com­ple­ment C5a anti­body which offers a com­plete bio­log­i­cal block­ing activ­ity and selec­tiv­ity towards its tar­get, C5a. Thus, IFX‑1 leaves the impor­tant for­ma­tion of the mem­brane attack com­plex (C5b‑9) intact while being capa­ble of block­ing C5a medi­ated effects in humans instantly and com­pletely. IFX‑1 con­trols the inflam­ma­tory response-dri­ven tis­sue and organ dam­age by specif­i­cally block­ing C5a as a key «ampli­fier» of this response in pre­clin­i­cal stud­ies. IFX‑1 is the first mon­o­clonal anti-C5a anti­body intro­duced into clin­i­cal devel­op­ment and has thus far suc­cess­fully com­pleted a clin­i­cal phase IIa study in patients suf­fer­ing from sep­tic organ dys­func­tions in which all pri­mary end­points were met. IFX‑1 is cur­rently being devel­oped in sev­eral dif­fer­ent clin­i­cal indications.

About InflaRx:

InflaRx is a bio­phar­ma­ceu­ti­cal com­pany focus­ing on the devel­op­ment of new break­through ther­a­peu­tics con­trol­ling inflam­ma­tion result­ing from ter­mi­nal com­ple­ment acti­va­tion. Its lead drug, IFX‑1, is a first-in-class com­ple­ment C5a inhibit­ing mon­o­clonal anti­body, which the com­pany believes holds vast poten­tial as a game changer in inflam­ma­tion. The Com­pany also is devel­op­ing addi­tional mol­e­cules, IFX‑2 and IFX‑3, tar­get­ing chronic inflam­ma­tion related dis­eases. InflaRx was founded in 2007 and is head­quar­tered in Jena, Ger­many. The team con­sists of inter­na­tion­ally renowned experts in com­ple­ment and clin­i­cal research. InflaRx is financed by Staid­son Hongkong Invest­ment Com­pany ltd, bm‑t Beteili­gungs­man­age­ment Thürin­gen Gmbh, KfW bank­ing group and var­i­ous inter­na­tional indus­trial and pri­vate investors.

Contacts:

InflaRx GmbH
Niels C. Riede­mann – CEO
Arnd Christ — CFO
Email: info[at]inflarx.de
Tel: +49–3641-508180

www.inflarx.de

 

MC Ser­vices AG

Katja Arnold / Dr. Cora Kaiser / Shaun Brown
Email: inflarx[at]mc-services.eu
Tel: +49–89-210 2280

 

The Trout Group

Jen­nifer Por­celli / Thomas Hoffmann
Email: JPorcelli[at]troutgroup.com / thoffmann[at]troutgroup.com
Tel: +1 646 378 2900

 

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