InflaRx (IFRX) investor relations material

Strategic focus and market opportunity

• Recent financing enabled a shift toward the renal space, especially ANCA vasculitis, leveraging a promising C5a receptor blocker with best-in-class potential.

• Withdrawal of a key competitor in Europe and the UK has created a significant market void, estimated at over €1.4 billion, enhancing opportunity.

• The company’s assets include both a C5a ligand antibody and a receptor blocker, with prior clinical success and licensing in China.

• Early data in other indications, such as hidradenitis suppurativa and chronic spontaneous urticaria, support the pathway’s broad relevance.

Drug development and differentiation

• Izicopan, the lead candidate, demonstrates superior plasma coverage, rapid onset, and a wide therapeutic window compared to competitors.

• Safety profile is favorable, with no observed liver enzyme elevations and no CYP3A4 inhibition, addressing key toxicity concerns of competitors.

• Oral, once-daily dosing is feasible, offering convenience and eliminating the need for vaccination required by upstream complement inhibitors.

• The mechanism targets the terminal complement pathway, believed to be the main driver of damage in renal diseases.

Clinical and regulatory strategy

• Focus has shifted from dermatology to kidney diseases, prioritizing AAV but also exploring aHUS, IgAN, and C3G through basket studies.

• A phase II trial in AAV is planned for early next year, with endpoints designed to meet FDA requirements and potential for a seamless phase II/III transition.

• Ongoing discussions with the FDA aim to agree on endpoints that could accelerate development timelines.

• The withdrawal of avacopan in Europe has increased unmet need, but the U.S. regulatory outcome remains uncertain; the company sees upside regardless.