InflaRX raises US$55m in Series D round
German infection specialist InflaRx (Jena) raised US$55m in a Series D financing co-led by Bain Capital Life Sciences LP, Cormorant Asset Management LLC and RA Capital Management LLC to finance its clinical programmes with its lead asset IFX-1.
According to the company, the transaction consists of a US$30m capital increase and a US$25m secondary share purchase. Proceeds from the capital increase will be used to advance Phase IIb development of InflaRx’s lead IFX-1, a first-in-class anti-human complement factor C5a monoclonal antibody, in chronic inflammatory and auto-immune indications and to advance non disclosed preclinical development of pipeline products.
In July 2017, InflaRx published results from a Phase IIa open label trial in patients suffering from the autoimmune skin disease Hidradenitis Suppurativa, which demonstrated the disease modifying activity of IFX-1. After having turned away from clinical testing of the compound in the investor-averse field of sepsis, for which no approved treatment exists, InflaRx has built a robust pipeline in different inflammatory/autoimmune indications.
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