InflaRx Announces Pricing of $30 Million Public Offering of Ordinary Shares and Pre-Funded Warrants

InflaRx N.V. (Nasdaq: IFRX), a clinical-stage biopharmaceutical company pioneering anti-inflammatory therapeutics by targeting the complement system, has announced the pricing of its underwritten public offering of ordinary shares and pre-funded warrants. The offering is expected to close on April 14, 2023, subject to customary closing conditions.

The company has priced the offering of 9,411,765 ordinary shares at an offering price of $4.25 per ordinary share. In lieu of ordinary shares, certain investors will receive pre-funded warrants to purchase the company's ordinary shares. The purchase price of each pre-funded warrant will equal the price per share at which ordinary shares are being sold to the public in this offering, minus $0.001, which will be the exercise price of each pre-funded warrant.

All ordinary shares and pre-funded warrants in the offering are to be sold by the Company. The underwriters have a 30-day option to purchase additional ordinary shares at the public offering price, less the underwriting discount.

The Company expects to grant the underwriters a 30-day option to purchase additional ordinary shares at the public offering price, less the underwriting discount. The net proceeds from the offering are primarily intended to fund the continued development of vilobelimab, general research and development expenses, and investments in the company's commercial infrastructure and for working capital and general corporate purposes.

Guggenheim Securities, LLC is serving as book-running manager for the proposed offering. A shelf registration statement relating to the ordinary shares and pre-funded warrants being sold in this offering was declared effective by the U.S. Securities and Exchange Commission (the "SEC") on July 11, 2023. The offering will be made only by means of a prospectus and prospectus supplement. A preliminary prospectus supplement and accompanying prospectus related to the offering have been filed with the SEC and are available at the SEC's website located at www.sec.gov. Copies of the preliminary prospectus supplement and accompanying prospectus related to the offering may be obtained by contacting Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, New York, NY 10017, by telephone at (212) 518-9544 or by email at GSEquityProspectusDelivery@guggenheimpartners.com. The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy securities, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

InflaRx N.V. (Nasdaq: IFRX) is a clinical-stage biopharmaceutical company pioneering anti-inflammatory therapeutics by applying its proprietary anti-C5a and anti-C5aR technologies to discover, develop and commercialize highly potent and specific inhibitors of the complement activation factor C5a and its receptor C5aR. C5a is a powerful inflammatory mediator involved in the progression of a wide variety of inflammatory diseases. InflaRx's lead product candidate, vilobelimab, is a novel, intravenously delivered, first-in-class, anti-C5a monoclonal antibody that selectively binds to free C5a and has demonstrated disease-modifying clinical activity and tolerability in multiple clinical studies in different indications. InflaRx is also developing INF904, an orally administered small molecule inhibitor of the C5a receptor. InflaRx was founded in 2007, and the group has offices and subsidiaries in Jena and Munich, Germany, as well as Ann Arbor, MI, USA. For further information, please visit www.inflarx.com.

InflaRx GmbH (in Germany) and InflaRx Pharmaceuticals, Inc. (in the USA) are wholly owned subsidiaries of InflaRx N.V. (together, "InflaRx").