InflaRx (IFRX) Guggenheim Securities Inaugural Healthcare Innovation Conference summary

Company overview and innovation focus

• Focuses on complement system, specifically C5a and C5aR, with two assets in clinical development.

• Lead drug, Vilobelimab, is a first-in-class monoclonal antibody with emergency use authorization for COVID and is in phase 3 for pyoderma gangrenosum (PG).

• Oral C5aR inhibitor, INF904, targets improved PK/PD over avacopan and is entering phase 2a for HS and CSU.

• Upcoming milestones include interim PG readout in Q2 next year and first efficacy data for INF904 in summer next year.

Differentiation and preclinical data for INF904

• INF904 shows higher plasma exposure and improved PK/PD compared to avacopan, with up to 10x higher exposure in humans.

• Demonstrates 36x lower engagement with CYP3A4, reducing risk of drug-drug interactions, especially with corticosteroids.

• Preclinical hamster models show 2x improved efficacy in neutropenia reversal compared to avacopan.

• Can be dosed higher or lower with better efficacy and safety profile, and allows for flexible dosing in skin diseases.

Clinical development strategy for INF904

• Phase 2a studies in CSU and HS will start this year, with data expected next year.

• CSU study includes arms for Xolair-refractory and all-comers, with high and low dose groups.

• 28-day CSU study aims to identify early efficacy signals and optimal dosing before larger trials.

• HS study is open-label, short-term, with three dose arms, focusing on PK and lesion reduction rather than variable endpoints.

• Both studies are under one protocol for efficiency and rapid enrollment.