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Fundraisings and IPOs

Date: 2018-05-08

Type of information: Private placement

Company: InflaRX (Germany)

Investors:

Amount: $62.9 million

Funding type: private placement

Planned used:

  • InflaRx intends to use the net proceeds of the offering, together with cash and cash equivalents on hand, to conduct a Phase IIb clinical trial for IFX-1 in HS patients and a Phase II clinical development program for IFX-1 in AAV patients as well as to fund first clinical Phase II development in two additional neutrophil-driven indications within the autoimmune and inflammatory disease area and the remainder to fund other research and development activities, including the development of a subcutaneous administration of IFX-1 for the treatment of HS and exploratory development of IFX-1 in oncology, as well as for working capital and other general corporate purposes.

Others:

  • • On May 8, 2018, InflaRx announced the closing of its primary and secondary public offering of 3,450,000 common shares of the company, consisting of 1,850,000 common shares offered by the Company and 1,600,000 common shares offered by the selling shareholders at price to the public of $34.00 per common share for total gross proceeds of $117.3 million, consisting of total gross proceeds to the Company of $62.9 million and total gross proceeds to the selling shareholders of $54.4 million, which includes the full exercise of the underwriters’ option to purchase additional shares.
  • • On May 2, 2018, InflaRx announced the pricing of its primary and secondary public offering of 3,000,000 common shares of the Company, consisting of 1,500,000 common shares offered by the Company and 1,500,000 common shares offered by the selling shareholders at price to the public of $34.00 per common share for total gross proceeds of approximately $102 million, consisting of total gross proceeds to the Company of approximately $51 million and total gross proceeds to the selling shareholders of approximately $51 million. In addition, InflaRx and the selling shareholders have granted the underwriters a 30-day option to purchase up to an additional 450,000 common shares at the public offering price, less underwriting discounts and commissions. The offering is expected to close on or about May 8, 2018, subject to customary closing conditions.
  • • On May 2, 2018, InflaRx announced that the company and certain selling shareholders have commenced an underwritten public offering of 3,000,000 common shares of the company, consisting of 1,500,000 common shares offered by the company and 1,500,000 common shares offered by the selling shareholders. In addition, InflaRx and the selling shareholders expect to grant the underwriters a 30-day option to purchase up to an additional 450,000 common shares at the public offering price, less underwriting discounts and commissions.
  • J.P. Morgan, Leerink Partners and BMO Capital Markets are serving as joint book-running managers for the proposed offering, with SunTrust Robinson Humphrey serving as lead manager. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Therapeutic area: Inflammatory diseases

Is general: Yes