InflaRx raises EUR 31 million (US$ 34M) in a Series C financing round to foster complement inhibitor development
Jena, Germany, July 21, 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.