InflaRx, which is developing antibodies for rare autoimmune and inflammatory diseases, announced terms for its IPO on Monday.
The Jena, Germany-based company plans to raise $100 million by offering 6.67 million shares at a price range of $14 to $16. Insiders intend to purchase $40 million worth of shares in the offering (40%). At the midpoint of the proposed range, InflaRx would command a fully diluted market value of $362 million.
InflaRx was founded in 2007 and plans to list on the Nasdaq under the symbol IFRX. J.P. Morgan, Leerink Partners and BMO Capital Markets are the joint bookrunners on the deal. It is officially on file as Fireman B.V. but plans to change its name to InflaRx. It is expected to price during the week of November 6, 2017.
