Germany-based InflaRx, a developer of new therapeutics “in the terminal complement space,” has secured $55 million in Series D funding. The investors included Bain Capital Life Sciences LP, Cormorant Asset Management LLC and RA Capital Management LLC. Ropes & Gray represented Bain Capital Life Sciences on the transaction.
Correction: An earlier version of this news report misstated Ropes & Gray represented InflaRx on this transaction. That has since been corrected.
JENA, GERMANY, October 13, 2017 – InflaRx, the biopharmaceutical company developing new therapeutics in the terminal complement space, announced today a $ 55M Series D financing and investment round. The round was co-led by Bain Capital Life Sciences LP, Cormorant Asset Management LLC and RA Capital Management LLC and complemented by certain investment funds managed by a leading US investment management firm. The transaction is comprised of a $ 30M capital increase and a $ 25M secondary share purchase. Proceeds from the capital increase will be used to advance clinical phase IIb development of InflaRx’s lead drug candidate IFX-1, a first-in-class anti-human complement factor C5a monoclonal antibody, in chronic inflammatory and auto-immune indications and to advance preclinical development of follow-up pipeline molecules.
In July 2017, InflaRx successfully completed a clinical Phase IIa open label trial in patients suffering from Hidradenitis Suppurativa, a chronic debilitating auto-inflammatory skin disease, which demonstrated the disease modifying activity of lead drug candidate IFX-1. This data was presented at two European meetings in September, the 16th European Meeting on Complement in Human Disease, Copenhagen and the 26th Meeting of the European Academy of Dermatology and Venerology, Geneva.
IFX-1 is a first-in-class monoclonal anti-complement factor C5a antibody, which offers a complete biological blocking activity towards its target, C5a in human blood. IFX-1 leaves the formation of the membrane attack complex (C5b-9) intact to work as an important defense mechanism, which is not the case for molecules blocking the cleavage of C5. IFX-1 has demonstrated control over the inflammatory response driven tissue and organ damage by specifically blocking C5a as a key “amplifier” of this response in pre-clinical studies. IFX-1 is the first monoclonal anti-C5a antibody introduced into clinical development. In total, over 150 people have so far been treated with IFX-1, which was well tolerated. IFX-1 is currently being developed for different inflammatory indications.
InflaRx is a clinical-stage biopharmaceutical company focused on applying its proprietary anti-C5a technology to discover and develop first-in-class, potent and specific inhibitors of C5a. C5a is a powerful inflammatory mediator involved in the progression of a wide variety of autoimmune and other inflammatory diseases. The company is also developing additional molecules targeting chronic and inflammation-related diseases. InflaRx was founded in 2007 and has offices in Jena and Munich, Germany. The team consists of renowned experts in complement and clinical research. InflaRx has been previously financed by bm-t Beteiligungsmanagement Thüringen Gmbh, KfW banking group, Staidson Hongkong Investment Co Ltd, and various international family and industrial investment offices.