Thuringia-based biotech company inflaRx (NASDAQ: IFRX) successfully completed its initial public offering on the US technology exchange Nasdaq yesterday, raising around $100 million.
The company placed 6,667,000 common shares at $15 each yesterday, raising gross proceeds of approximately $100 million. In addition, the underwriters have the option to purchase an additional 1,000,050 shares at the issue price via an over-allotment option over a 30-day period. JP Morgan, BMO Capital Markets and Leerink Partners acted as book-running managers.
InflaRx specialises in the development of first-in-class blockers for inflammatory and autoimmune diseases. The most advanced is the production cadidate IFX‑1 against sweat gland abscess (hidradenitis suppurtiva). In the product pipeline are active substances against other chronic and autoimmune diseases.
The bm|t congratulates the team around Dr. Niels Riedemann on this great success. We are very proud to have accompanied the company as an investor since day one and thus to have made another Thuringian success story possible.
Here you can find more information: www.inflarx.de/Home/Investors/Press-Releases/11–2017