Commodore Capital reports 5%+ stake in InflaRx (IFRX)

Rhea-AI Filing Summary

InflaRx N.V. shareholder Commodore Capital LP, together with Commodore Capital Master LP, Robert Egen Atkinson, and Michael Kramarz, reports beneficial ownership of 7,475,000 ordinary shares of InflaRx N.V. as of August 10, 2026. This represents 5.1% of the outstanding ordinary shares, based on 147,368,221 shares outstanding as of June 30, 2026.

The filers report no sole voting or dispositive power over InflaRx shares and shared voting and shared dispositive power over 7,475,000 shares. Commodore Capital LP acts as investment manager to Commodore Capital Master LP, while Atkinson and Kramarz are managing partners exercising investment discretion.

Key Figures

Shares beneficially owned: 7,475,000 shares Ownership percentage: 5.1% Shares outstanding: 147,368,221 shares +4 more

7 metrics

Shares beneficially owned 7,475,000 shares Ordinary shares beneficially owned by the filers as of August 10, 2026

Ownership percentage 5.1% Percentage of InflaRx N.V. ordinary shares beneficially owned by the filers

Shares outstanding 147,368,221 shares InflaRx N.V. ordinary shares outstanding as of June 30, 2026

Sole voting power 0 shares Shares over which each filer has sole power to vote

Shared voting power 7,475,000 shares Shares over which each filer has shared power to vote

Sole dispositive power 0 shares Shares over which each filer has sole power to dispose

Shared dispositive power 7,475,000 shares Shares over which each filer has shared power to dispose

Key Terms

beneficially own, shared voting power, shared dispositive power, investment manager, +1 more

5 terms

beneficially own financial

"the Firm may be deemed to beneficially own an aggregate of 7,475,000 ordinary shares"

Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.

shared voting power financial

"6 | Shared Voting Power 7,475,000.00"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

shared dispositive power financial

"8 | Shared Dispositive Power 7,475,000.00"

investment manager financial

"The Firm is the investment manager to Commodore Master."

Schedule 13G financial

"Ownership percentages are based on 147,368,221 shares ... in the Issuer's Rule 424(b)(4) Prospectus"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

FAQ

What percentage of InflaRx N.V. (IFRX) does Commodore Capital report owning?

Commodore Capital and related filers report beneficial ownership of 5.1% of InflaRx N.V.. This stake corresponds to 7,475,000 ordinary shares, calculated against 147,368,221 shares outstanding as of June 30, 2026, according to the company’s referenced prospectus.

How many InflaRx N.V. (IFRX) shares does Commodore Capital beneficially own?

The filers beneficially own 7,475,000 ordinary shares of InflaRx N.V. This position is reported as of August 10, 2026 and represents shared voting and dispositive power over these shares, with no sole voting or dispositive authority reported.

What is the total number of InflaRx N.V. (IFRX) shares outstanding used for the 5.1% calculation?

The ownership percentage is based on 147,368,221 ordinary shares outstanding. This outstanding share count is stated as of June 30, 2026 and comes from InflaRx N.V.’s Rule 424(b)(4) prospectus referenced in the Schedule 13G filing.

Who are the filers on this Schedule 13G for InflaRx N.V. (IFRX)?

The Schedule 13G is filed by Commodore Capital LP, Commodore Capital Master LP, Robert Egen Atkinson, and Michael Kramarz. Commodore Capital LP acts as investment manager to Commodore Capital Master LP, and Atkinson and Kramarz are managing partners exercising investment discretion.

What voting power do the Commodore Capital filers report over InflaRx N.V. (IFRX) shares?

The filers report 0 shares with sole voting power and 7,475,000 shares with shared voting power. They likewise report 0 shares with sole dispositive power and 7,475,000 shares with shared dispositive power over InflaRx N.V. ordinary shares.

As of what date is the InflaRx N.V. (IFRX) ownership by Commodore Capital measured?

The reported ownership of 7,475,000 InflaRx ordinary shares is measured as of August 10, 2026. The percentage of class, 5.1%, uses the issuer’s outstanding share figure of 147,368,221 shares as of June 30, 2026.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/17/2026 - 04:34 PM Accepted by SEC EDGAR 08/17/2026 - 04:34 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

InflaRx N.V.

(Name of Issuer)

Ordinary Shares, nominal value 0.12 EUR per share

(Title of Class of Securities)

N44821101

(CUSIP Number)

08/10/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): N44821101

1

Names of Reporting Persons

Commodore Capital LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 7,475,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 7,475,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

7,475,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.1 %

12

Type of Reporting Person (See Instructions)

IA, PN

SCHEDULE 13G

CUSIP Number(s): N44821101

1

Names of Reporting Persons

Commodore Capital Master LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 7,475,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 7,475,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

7,475,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.1 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP Number(s): N44821101

1

Names of Reporting Persons

Robert Egen Atkinson

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 7,475,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 7,475,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

7,475,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.1 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

CUSIP Number(s): N44821101

1

Names of Reporting Persons

Michael Kramarz

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 7,475,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 7,475,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

7,475,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.1 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: InflaRx N.V.
(b)	Address of issuer's principal executive offices: Winzerlaer Str. 2, Jena, GERMANY, 07745.
Item 2.
(a)	Name of person filing: Commodore Capital LP Commodore Capital Master LP Robert Egen Atkinson Michael Kramarz Each a "Filer."
(b)	Address or principal business office or, if none, residence: The address for Commodore Capital LP, Robert Egen Atkinson, and Michael Kramarz is 444 Madison Avenue, Floor 35, New York, NY 10022. The address for Commodore Capital Master LP is c/o Maples Corporate Services Limited, Ugland House, South Church Street, PO Box 309, Grand Cayman KY1-1104, Cayman Islands.
(c)	Citizenship: See Item 4 of the cover page for each Filer.
(d)	Title of class of securities: Ordinary Shares, nominal value 0.12 EUR per share
(e)	CUSIP Number(s): N44821101
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: See Item 9 of the cover page for each Filer. This report on Schedule 13G is being filed by Commodore Capital LP (the "Firm"), Commodore Capital Master LP ("Commodore Master"), Michael Kramarz, and Robert Egen Atkinson. The Firm is the investment manager to Commodore Master. As of August 10, 2026, the Firm may be deemed to beneficially own an aggregate of 7,475,000 ordinary shares, nominal value 0.12 EUR per share (the "Ordinary Shares") of InflaRx N.V. (the "Issuer"). The Firm, as the investment manager to Commodore Master, may be deemed to beneficially own these securities. Michael Kramarz and Robert Egen Atkinson are the managing partners of the Firm and exercise investment discretion with respect to these securities. Ownership percentages are based on 147,368,221 shares of the Issuer's Ordinary Shares outstanding as of June 30, 2026 as issued in the Issuer's Rule 424(b)(4) Prospectus filed with the Securities and Exchange Commission on August 14, 2026.
(b)	Percent of class: See Item 11 of the cover page for each Filer.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See Item 5 of the cover page for each Filer.
	(ii) Shared power to vote or to direct the vote: See Item 6 of the cover page for each Filer.
	(iii) Sole power to dispose or to direct the disposition of: See Item 7 of the cover page for each Filer.
	(iv) Shared power to dispose or to direct the disposition of: See Item 8 of the cover page for each Filer.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Commodore Capital LP

Signature:	Michael Kramarz
Name/Title:	Managing Partner
Date:	08/17/2026

Commodore Capital Master LP

Signature:	Michael Kramarz
Name/Title:	Authorized Signatory
Date:	08/17/2026

Robert Egen Atkinson

Signature:	Robert Egen Atkinson
Name/Title:	Authorized Signatory
Date:	08/17/2026

Michael Kramarz

Signature:	Michael Kramarz
Name/Title:	Authorized Signatory
Date:	08/17/2026

Exhibit Information

Exhibit 1: Joint Filing Agreement