Arix Bioscience plc Arix co-leads $63m Series B investment round for Imara

 
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                              Arix Bioscience plc 
 
         Arix co-leads $63 million Series B investment round for Imara 
 
  * Arix co-leads a $63 million Series B investment in new portfolio company 
    Imara 
 
  * Arix commits $15.0 million (GBP11.3 million)[1] for 10% ownership stake 
 
  * Arix expands breadth of portfolio with investment in sickle cell disease 
    via a later-stage clinical asset in phase 2 
 
LONDON, 18 March 2019: Arix Bioscience plc ("Arix") (LSE: ARIX), a global 
healthcare and life science company supporting medical innovation, today 
announces it has invested in new portfolio company Imara, Inc. ("Imara"), a 
company dedicated to developing novel therapeutics for chronic treatment of 
Sickle Cell Disease ("SCD") and other hemoglobinopathies. 
 
As part of the financing, Arix has committed to invest $15.0 million (GBP11.3 
million) for a 10% stake on a fully diluted basis. Arix Investment Director 
Mark Chin will join Imara's board of directors and Investment Associate John 
Cassidy will join as an observer. 
 
Cambridge, MA based Imara is developing IMR-687, an orally-administered, highly 
potent and selective phosphodiesterase 9 (PDE9) inhibitor developed to treat 
the underlying causes of the pathology of sickle cell disease, a condition 
characterised by sickling of red blood cells and the occlusion or blockage of 
small blood vessels by the rigid, sickle-shaped red blood cells. The company 
has a highly experienced leadership team led by Chief Executive Officer Rahul 
Ballal, formerly the Chief Business Officer at Northern Biologics and 
Entrepreneur-in-Residence at Versant Ventures. Early clinical data in SCD 
patients support the potential for IMR-687 to improve health outcomes and 
possibly ameliorate disease pathology. The mechanism of IMR-687 is 
differentiated from other therapies in development by its dual action on both 
red and white blood cells. IMR-687 successfully completed a Phase 1 study in 
healthy volunteers and is currently being tested in a global Phase 2a study in 
adult SCD patients, including sites in the UK. 
 
The financing was co-led by new investors Arix and Orbimed Advisors and also 
included RA Capital and Rock Springs Capital. Existing investors NEA, Pfizer 
Ventures, Bay City Capital, Lundbeckfonden Ventures and Alexandria Venture 
Investments also participated in the fundraise. Proceeds from the financing 
will be used to progress clinical development in sickle cell disease in adults 
and children, and broader applications in beta thalassemia and other 
haematological conditions. 
 
Joe Anderson, Chief Executive Officer of Arix, commented: "Sickle cell disease 
affects a large and growing population across the world and is devastating for 
both patients and families. Imara is led by an exceptional team developing a 
novel, compelling approach to treating this difficult disease. We look forward 
to working with the leadership team and our co-investors to help accelerate the 
development of this exciting company." 
 
Rahul Ballal, Chief Executive Officer of Imara, commented: 
 
"This is a transformative moment for Imara, as this financing allows us to 
accelerate clinical development for IMR-687 in SCD and expand its utility to 
other populations and related haematological diseases.  We hope to provide 
patients a meaningful, but easy-to-use therapy in their fight against SCD and 
related disorders. 
 
"We are delighted by the strong support from Arix as well as our existing and 
new investors and I look forward to working closely with Mark and John to build 
the company and team." 
 
                                     ENDS 
 
Enquiries 
 
[1] At exchange rate on 15 March 2019 
 
For more information on Arix, please contact: 
 
Arix Bioscience plc 
 
Charlotte Parry, Head of Investor Relations 
 
[phone] 
 
[e-mail] 
 
Optimum Strategic Communications 
 
Mary Clark, Supriya Mathur 
 
[phone] 
 
[e-mail] 
 
About Arix Bioscience plc 
 
Arix Bioscience plc is a global healthcare and life science company supporting 
medical innovation. Headquartered in London and with an office in New York, 
Arix Bioscience sources, finances and builds world class healthcare and life 
science businesses addressing medical innovation at all stages of development. 
Operations are supported by privileged access to breakthrough academic science 
and strategic relationships with leading research accelerators and global 
pharmaceutical companies. 
 
Arix Bioscience plc is listed on the Main Market of the London Stock Exchange. 
For further information, please visit www.arixbioscience.com 
 
About Imara, Inc. 
 
Imara Inc., is dedicated to developing novel therapeutics for people living 
with sickle cell disease and other hemoglobinopathies. Sickle cell disease is a 
rare, genetic blood disease that causes red blood cells to sickle and become 
damaged, activating immune cells and blocking blood flow in capillaries, 
injuring many organs and causing daily pain. Imara is developing IMR-687, a 
highly selective, potent small molecule inhibitor of phosphodiesterase-9 
(PDE9i), to treat patients with sickle cell disease. Imara has received Orphan 
Drug Designation from the US FDA for IMR-687 for SCD and has initiated a phase 
2a [global] clinical trial in adult patients with the indication. 
 
http://imaratx.com/ 
 
About Sickle Cell Disease 
 
Sickle cell disease is a rare, genetically inherited condition, which affects 
haemoglobin, the protein in red blood cells that transports oxygen throughout 
the body. Sickle cell disease is a multi-organ disease afflicting more than 
160,000 individuals in the United States and Europe, and many more in Africa 
and Asia. Due to the sickling of the red blood cells, and activation of immune 
cells and the blood vessel endothelial lining, patients bear the burden a 
multitude of pathologies from this disease. At the basis of many of these 
symptoms is occlusion or blockage of vessels in micro-capillary beds. As a 
result of this pathology, patients experience repeated episodes of 
vaso-occlusive crisis or VOC, acute chest syndrome or ACS, damage to other 
organs including the liver, spleen, kidney and the brain. 
 
 
 
END 
 

(END) Dow Jones Newswires

March 18, 2019 03:00 ET (07:00 GMT)