Bain, RA back InflaRx’s $55M round after early study produces promising results
A little more than a month ago, Germany’s InflaRx rolled out some promising proof-of-concept data from a small Phase IIa study of its lead drug, a complement factor C5a monoclonal antibody targeting a rare skin disease called Hidradenitis Suppurativa.
According to researchers, an impressive 10 of the 12 patients in the study — which included 9 drug-resistant patients — achieved a clinical response, with a significant 50% or greater reduction in inflammatory lesion count (abscesses and inflammatory nodules) and no increase in abscesses or draining fistulas when compared with baseline.
Now comes the crossover round.
This morning three closely allied US groups — Bain Capital Life Sciences LP, Cormorant Asset Management LLC and RA Capital Management, along with an unnamed US investment group — came up with a $55 million financing round as InflaRx sets out for the Phase IIb while building up its preclinical pipeline.
Anytime you see RA in a raise like this, you can shove up your odds of a near-term Nasdaq IPO. And Bain’s newly fielded Adam Koppel likes to work with RA and Cormorant, as he did in coming up with a $70 million financing for Dicerna.
Niels Riedemann, founder and CEO of InflaRx, has claimed a lead role for the company in the field of terminal complement C5a inhibition, raising an earlier $34 million round from Staidson Hongkong Investment as well as other — undisclosed — international investors and family offices.
But they’re not alone. Mountain View, CA-based ChemoCentryx has its own C5a in the clinic.