InflaRx has closed Series B funding that’s in “the double digit million euro space.” Bm|t was the lead investor. Based in Jena, Germany, InflaRx develops therapeutics that focus on acute and chronic inflammation.
JENA, Germany–(BUSINESS WIRE)–InflaRx announced today the successful closing of its round B financing by completing the second of two tranches within this round. All current investors as well as new private investors participated in this financing round B reaching an investment volume in the double digit million Euro space. The proceeds of this round will enable clinical phase II development of IFX-1, the first-in-class anti complement lead drug monoclonal antibody, in different acute inflammatory indications. In addition, the company explained that this funding shall foster pre-clinical development of IFX-2 as follow on antibody for the treatment of selected chronic inflammatory diseases and enable the development of a new bedside complement activation test in collaboration with a diagnostic partner.
Supported by the lead investment of the bm|t (beteiligungsmanagement thüringen gmbh) and other key stakeholders, InflaRx managed to build a global network of private business investors. “We are very happy being able to close this round with committed and excited investors especially in the current financial environment in Europe” says Prof. Niels Riedemann, co-founder and CEO of the company. “InflaRx offers a very exciting technology and has been able to establish a strong track record of delivering its set milestones”, ads Udo Werner, CEO of bm|t.
The company has recently been awarded the IQ Innovation Award in Germany for its anti-complement technology. InflaRx has started its first phase IIa trial with IFX-1 in 2014 targeting infectious organ dysfunction in acutely site specific septic patients. In addition the company is setting up a second phase II trial preventing systemic inflammation and organ dysfunction in large scale surgery. Additional clinical programs are in the pipeline. “During the past 6.5 years, we have focused on delivering a first-in-class technology targeting a key player of inflammation and have now enlarged our technology base to target both, acute and chronic inflammatory diseases” explains Prof. Renfeng Guo, co-founder and CSO of InflaRx. – “We believe that our technology has the potential to change clinical practice in the field of inflammation and to provide benefit in areas of large medical need. This is what motivates and drives our entire team”, ads Niels Riedemann.
About InflaRx GmbH
About bm|t beteiligungsmanagement thüringen gmbh
bm|t acts as the management company of six Thüringen dedicated investment funds, the TI – Thüringer Innovationsfonds, VCT (Venture Capital Thüringen GmbH & Co. KG), TIB (Thüringer Industriebeteiligungs GmbH & Co. KG), PET-I (Private Equity Thüringen GmbH & Co. KG) and PET-II (Private Equity Thüringen GmbH & Co. Zweite Beteiligungen KG) and ThGF (Thüringer Gründerfonds). As of today, bm|t manages a portfolio of 40 companies located in Thüringen (Germany) for a total of more than EURO 230M under management.