Imara Secures $63 Million Series B Financing to Advance IMR-687 for Sickle Cell Disease and Beta Thalassemia

VCBeat (WeChat Official Account: vcbeat) has learned that on March 18, 2019, Imara announced the completion of a $63 million Series B financing round. The round was led by OrbiMed Advisors and Arix Bioscience, with participation from RA Capital, Rock Springs Capital, and other investors. The funds raised will be used to support the research and development of IMR-687, a drug candidate for the treatment of thalassemia and sickle cell disease.

As part of the transaction, OrbiMed Partner David Bonita, M.D., and Arix Bioscience Investment Director Mark Chin joined the Board of Directors of Imara. Dr. John Cassidy, Investment Associate at Arix Bioscience, and Dr. Matthew Hammond, Principal at RA Capital, will join Imara as observers.

Imara is a biotechnology company headquartered in Massachusetts, United States, founded in 2015. The company is dedicated to developing novel therapies for patients with sickle cell disease or thalassemia.

Sickle cell disease is an inherited disorder characterized by dysfunctional hemoglobin molecules. When exposed to various environmental conditions, hemoglobin within red blood cells polymerizes, causing the cells to distort into a sickle shape. This deformation enables red blood cells to pass through intercellular spaces, leading to impaired nutrient delivery to downstream tissues. Thalassemia is an inherited hemolytic anemia. Genetic defects result in deficient synthesis of one or more globin chains in hemoglobin, thereby leading to anemia or pathological states.

It is reported that Imara is developing IMR-687, a drug specifically designed for the treatment of sickle cell disease and thalassemia. This medication is a highly selective and potent small-molecule inhibitor. Upon administration, it helps improve vascular flow and reduce sickled red blood cells. Imara has completed Phase 1 clinical trials for IMR-687 and is currently evaluating its Phase 2 study.

“We appreciate the investors’ recognition. Imara is committed to developing meaningful therapies with the aim of improving the lives of patients worldwide. Moving forward, we will accelerate our drug development pipeline and strive for early commercialization, so as to bring change to patients with thalassemia and sickle cell disease as soon as possible,” said Dr. Rahul D. Ballal, Chief Executive Officer of Imara.

OrbiMed Advisors is an investment firm focused on healthcare, headquartered in New York, USA, with approximately $5 billion in assets under management. Established in 1989, its investment advisory business focuses on investing in healthcare projects of private start-ups or large multinational corporations.

Arix Bioscience is a global healthcare and life sciences company founded in 2015 and headquartered in London, UK. The company has extensive experience in clinical science, commercial strategy, venture capital, corporate finance, corporate operations, and mergers and acquisitions.

RA Capital, founded in 2001, is a venture capital firm based in Massachusetts, USA, primarily investing in the life sciences and drug development sectors. The firm’s team comprises professionals with expertise in biology, chemistry, and medicine, who possess extensive experience in industry operations and business development.

Rock Springs Capital is a venture capital firm headquartered in Maryland, United States. The firm’s investments are primarily concentrated in the early-stage and late-stage startup phases of companies. To date, the company has made 55 investments, with 41 successful exits; the companies from which it has exited are predominantly in the biotechnology sector.

(Compiled by Hu Xuan)