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news.German Biopharmaceutical firm InflaRx has raised $34m in a Series C financing round to advance clinical phase II development of the lead drug candidate IFX-1.
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New investors such as Staidson Hongkong Investment, international industrial investors and family offices as well as existing investors participated in the financing round.
IFX-1 is a monoclonal anti-complement C5a antibody, in several acute and chronic inflammatory indications as well as the preclinical development of the follow-up pipeline-molecules.
Earlier this year, IFX-1 was validated in a phase IIa clinical trial that InflaRx claims provided excellent data.
InflaRx founder and CEO Niels Riedemann said: "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.
Last month, InflaRx started its second phase II trial of IFX-1 in patients undergoing complex cardiac surgery.
IFX-1 is currently being developed in various different clinical indications.
Apart from IFX-1, the company is also developing additional molecules, IFX-2 and IFX-3, targeting chronic inflammation related diseases.
InflaRx was established in 2007 with headquarters in Jena, Germany.