InflaRx Presents New Analysis of PANAMO Phase III Trial in Severe COVID-19 at ATS 2024 Showing Potential Synergy With Vilobelimab When Used in Combination with Other Immunomodulators Jena, Germany

InflaRx Presents New Analysis of PANAMO Phase

III Trial in Severe COVID-19 at ATS 2024 Showing Potential Synergy With Vilobelimab When Used in Combination with Other Immunomodulators

Jena, Germany, May 21, 2024 -

InflaRx N.V. (Nasdaq: IFRX), a biopharmaceutical company pioneering anti-inflammatory therapeutics by targeting the complement system,

announced data presented at the American Thoracic Society (ATS) 2024 International Conference that is being held from May 17-22,

InflaRx is presenting a poster at the

thematic poster session at the ATS conference today from 11:30 AM PT / 2:30 PM ET to 1:15 PM PT / 4:15 PM ET. The poster is titled, "Vilobelimab

in Combination with Tocilizumab or Baricitinib Dramatically Improves Mortality in Critically Ill COVID-19 Patients" and is being

presented during the "ARDS and Acute Respiratory Failure: Mechanism, Risk, and Outcomes" thematic poster session.

The data being presented is derived

from a post-hoc subgroup analysis of the PANAMO Phase III global study, one of the largest 1:1 randomized, double-blind placebo-controlled

trials in invasively mechanically ventilated (IMV) COVID-19 patients in intensive care units in adult critically ill COVID-19 patients.

Tocilizumab, an anti-IL6R antibody, and baricitinib, a JAK inhibitor, are immunomodulators used in some patients as part of the standard

of care treatment in this trial. PANAMO included a total of 369 patients and was used to support the emergency use authorization (EUA)

granted by the U.S. Food and Drug Administration (FDA) in April 2023 for GOHIBIC (vilobelimab) for the treatment of critically ill COVID-19

The analysis presented at ATS 2024 is

comprised of 71 patients from PANAMO that assessed 28- and 60-day all-cause mortality in the subgroup of patients taking the combination

of vilobelimab plus tocilizumab or baricitinib versus patients on placebo plus tocilizumab or baricitinib. All patients received standard

of care. Safety was also assessed.

The point estimate for 28-day all-cause

mortality was 6.3% in the vilobelimab plus tocilizumab or baricitinib arm, and 40.9% in the placebo plus tocilizumab or baricitinib arm:

this is a significant relative reduction of 84.6% (HR 0.13; 95% CI:0.03-0.56, p=0.006) between the two arms. Day 60 all-cause mortality

was 16.4% and 49.3%, respectively (HR 0.25; 95% CI:0.09-0.68, p=0.006), a significant relative reduction.

The co-administration of vilobelimab

with baricitinib or tocilizumab was not associated with safety concerns. In addition, demographics of these subgroups were generally well-balanced

and comparable to the overall study population.

Camilla Chong, MD, Chief Medical

Officer of InflaRx, commented: "I am thrilled that we can share this additional data from the PANAMO study, which will provide

further scientific insights into the utility of vilobelimab when used with tocilizumab and baricitinib in critically ill hospitalized

COVID-19 patients. We believe this analysis further supports the life-saving potential of vilobelimab in the acute care setting and indicates

our continued commitment to these patients."

Vilobelimab is a first-in-class monoclonal

anti-human complement factor C5a antibody, which highly and effectively blocks the biological activity of C5a and demonstrates high selectivity

towards its target in human blood. Thus, vilobelimab leaves the formation of the membrane attack complex (C5b-9) intact as an important

defense mechanism of the innate immune system, which is not the case for molecules blocking C5. In pre-clinical studies, vilobelimab has

been shown to control the inflammatory response driven tissue and organ damage by specifically blocking C5a as a key "amplifier"

of this response. In addition to development in COVID-19, vilobelimab is also being developed for various debilitating or life-threatening

inflammatory indications, including pyoderma gangrenosum and cutaneous squamous cell carcinoma.

Important Information about GOHIBIC

Vilobelimab has been granted an EUA

for the treatment of COVID-19 in hospitalized adults when initiated within 48 hours of receiving IMV or extracorporeal membrane oxygenation.

The emergency use of GOHIBIC (vilobelimab)

is only authorized for the duration of the declaration that circumstances exist justifying the authorization of the emergency use of drugs

and biological products during the COVID-19 pandemic under Section 564(b)(1) of the Act, 21 U.S.C. 360bbb-3(b)(1), unless the declaration

is terminated, or authorization revoked sooner.

Vilobelimab is an investigational drug

that has not been approved by the FDA for any indication including for the treatment of COVID-19. There is limited information known about

the safety and effectiveness of using GOHIBIC (vilobelimab) to treat people in the hospital with COVID-19. Please see additional information

in the Fact Sheet for Healthcare Providers, Fact Sheet for Patients and Parents/Caregivers and FDA Letter of Authorization on the GOHIBIC

(vilobelimab) website (www.GOHIBIC.com).

Important Safety Information about

GOHIBIC (vilobelimab)

There is limited clinical data available

for GOHIBIC (vilobelimab). Serious and unexpected adverse events (AEs) may occur that have not been previously reported with GOHIBIC (vilobelimab)

GOHIBIC (vilobelimab) has been associated

with an increase of serious infections. In patients with COVID-19, monitor for signs and symptoms of new infections during and after treatment

with GOHIBIC (vilobelimab). Hypersensitivity reactions have been observed with GOHIBIC (vilobelimab). If a severe hypersensitivity reaction

occurs, administration of GOHIBIC (vilobelimab) should be discontinued and appropriate therapy initiated.

The most common adverse reactions (incidence

3%) are pneumonia, sepsis, delirium, pulmonary embolism, hypertension, pneumothorax, deep vein thrombosis, herpes simplex, enterococcal

infection, bronchopulmonary aspergillosis, hepatic enzyme increased, urinary tract infection, hypoxia, thrombocytopenia, pneumomediastinum,

respiratory tract infection, supraventricular tachycardia, constipation, and rash.

Healthcare providers and/or their designee

are responsible for mandatory FDA MedWatch reporting of all medication errors and serious AEs or deaths occurring during GOHIBIC (vilobelimab)

treatment and considered to be potentially attributable to GOHIBIC (vilobelimab).

Report side effects to the FDA at 1-800-FDA-1088

or www.FDA.gov/medwatch. In addition, side effects can be reported to InflaRx at: pvusa@inflarx.de

For the full prescribing information and

additional important safety information, please visit www.GOHIBIC.com

InflaRx GmbH (Germany) and InflaRx Pharmaceuticals

Inc. (USA) are wholly owned subsidiaries of InflaRx N.V. (together, InflaRx).

InflaRx (Nasdaq: IFRX) is a biopharmaceutical

company pioneering anti-inflammatory therapeutics by applying its proprietary anti-C5a and anti-C5aR technologies to discover, develop

and commercialize highly potent and specific inhibitors of the complement activation factor C5a and its receptor C5aR. C5a is a powerful

inflammatory mediator involved in the progression of a wide variety of inflammatory diseases. InflaRx's lead product candidate,

vilobelimab, is a novel, intravenously delivered, first-in-class, anti-C5a monoclonal antibody that selectively binds to free C5a and

has demonstrated disease-modifying clinical activity and tolerability in multiple clinical studies in different indications. InflaRx is

also developing INF904, an orally administered small molecule inhibitor of C5a-induced signaling via the C5a receptor. InflaRx was founded

in 2007, and the group has offices and subsidiaries in Jena and Munich, Germany, as well as Ann Arbor, MI, USA. For further information,

please visit www.inflarx.de.

This press release contains forward-looking statements.

All statements other than statements of historical fact are forward-looking statements, which are often indicated by terms such as "may,"

"will," "should," "expect," "plan," "anticipate," "could," "intend,"

"target," "project," "estimate," "believe," "predict," "potential"

or "continue," among others. Forward-looking statements appear in a number of places throughout this release and may include

statements regarding our intentions, beliefs, projections, outlook, analyses and current expectations concerning, among other things,

the receptiveness of GOHIBIC (vilobelimab) as a treatment for COVID-19 by COVID-19 patients and U.S. hospitals and related treatment recommendations

by medical/healthcare institutes and other third-party organizations, our ability to successfully commercialize and the receptiveness

of GOHIBIC (vilobelimab) as a treatment for COVID-19 by COVID-19 patients and U.S. hospitals or our other product candidates; our expectations

regarding the size of the patient populations for, market opportunity for, coverage and reimbursement for, estimated returns and return

accruals for, and clinical utility of GOHIBIC (vilobelimab) in its approved or authorized indication or for vilobelimab and any other

product candidates, under an EUA and in the future if approved for commercial use in the U.S. or elsewhere; our ability to successfully

implement The InflaRx Commitment Program, the success of our future clinical trials for vilobelimab's treatment of COVID-19 and

other debilitating or life-threatening inflammatory indications, including PG, and any other product candidates, including INF904, and

whether such clinical results will reflect results seen in previously conducted pre-clinical studies and clinical trials; the timing,

progress and results of pre-clinical studies and clinical trials of our product candidates and statements regarding the timing of initiation

and completion of studies or trials and related preparatory work, the period during which the results of the trials will become available,

the costs of such trials and our research and development programs generally; our interactions with regulators regarding the results of

clinical trials and potential regulatory approval pathways, including related to our Marketing Authorization Application submission for