InflaRx completes $150 million share offering at $2.00 per share

InflaRx N.V. (NASDAQ: IFRX) completed an underwritten offering of 75 million ordinary shares at $2.00 per share, generating $150 million in gross proceeds before underwriting discounts and expenses, according to a company statement.

The biopharmaceutical company, which develops anti-inflammatory therapeutics targeting the complement system, plans to use the net proceeds to advance pipeline activities and for working capital and general corporate purposes.

The offering attracted participation from both new and existing investors. New participants included TCGX, Farallon Capital Management, Sirenia Capital Management LP, Columbia Threadneedle Investments, Great Point Partners LLC, ADAR1 Capital Management, Coastlands Capital, Squadron Capital Management and other mutual funds. Existing investors 683 Capital and other healthcare funds also participated.

Guggenheim Securities served as lead bookrunner for the offering. Oppenheimer & Co. and LifeSci Capital acted as bookrunners, while Raymond James and Needham & Company served as co-lead managers. H.C. Wainwright & Co. and Lucid Capital Markets acted as co-managers.

The shares were sold under a shelf registration statement that the Securities and Exchange Commission declared effective on July 11, 2023. The offering was conducted through a prospectus and prospectus supplement filed with the SEC.

InflaRx focuses on developing inhibitors of complement activation factor C5a and its receptor C5aR. The company's lead program is izicopan, an oral small molecule inhibitor being developed for antineutrophil cytoplasmic antibody-associated vasculitis and additional renal diseases. The company also developed vilobelimab, an intravenous anti-C5a monoclonal antibody.

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