InflaRx Secures €44M Grant From German Govt To Advance Its COVID-19 Trial

The German Ministry of Education & Research and the Ministry of Health have granted €43.7 million to InflaRx N.V. IFRX to support the development of vilobelimab for COVID-19 patients.
The grant was awarded as part of a government initiative, which the German Federal Government announced earlier this year, to accelerate the development of promising therapeutic options for treating COVID-19 in patients at all stages of the disease.
The initial tranche of €25.8 million (approximately $29.9 million) is structured as reimbursement of 80% of certain pre-specified expenses related to the clinical development and manufacturing of vilobelimab.
The remainder of the grant will be awarded in three additional tranches, each conditional on reaching agreed-upon development and manufacturing-related milestones.
Payments from this grant to the Company are expected to begin in Q4 2021.
The Phase 3 part of Phase 2/3 study with vilobelimab in critically ill, mechanically ventilated COVID-19 patients has been fully enrolled. Top-line results are expected in Q1 of 2022.
Related: InflaRx's Vilobelimab Shows Encouraging Signs Of Drug Activity In Mid-Stage Study With Dermatological Ulcer Patients.
Price Action: IFRX shares are up 13.60% at $2.75 during the market session on the last check Tuesday.