InflaRx has raised $55 million (€47 million) in a new funding round. The series D follows fast after InflaRx established the potential of its anti-human complement factor C5a monoclonal antibody IFX-1 with phase 2a data.
Bain Capital Life Sciences, Cormorant Asset Management and RA Capital Management coled the investment, which was made up of a $30 million capital increase and $25 million secondary share purchase.
Jena, Germany-based InflaRx will use the money to embark on a phase 2b program.
Based on C5a’s status as an inflammatory mediator, InflaRx thinks IFX-1 could treat a range of chronic inflammatory and autoimmune conditions. Clinical evidence to support that thinking comes from a phase 2a in patients with the inflammatory skin disease hidradenitis suppurativa.
Top-line data shared last month showed nine of the 12 patients in the trial improved against a clinical response after eight weekly intravenous injections of IFX-1. A tenth patient showed such improvement by the end of the 12-week follow-up period.
Most of the patients had taken Humira—the only drug approved by FDA for moderate to severe forms of the disease—without success before joining the trial.
InflaRx has previously tested the effect of the drug on patients with with early severe sepsis or septic shock and those undergoing complex cardiac surgery.
Turning to a trio of U.S. financiers for the cash continues the globalization of InflaRx’s investor base that began with last year’s $34 million series C, when Asia’s Staidson Hongkong Investment came on board. InflaRx had largely relied on local investors, such as b-mt and government-owned KfW, up to that point.
Branching out beyond Germany has helped InflaRx put together progressively bigger rounds and now provided it with a launchpad for a possible Nasdaq IPO.