Arix Bioscience has invested $15 million in new portfolio company Imara, Inc, thus adding to its novel therapeutics for chronic treatment of Sickle Cell Disease (SCD) and other hemoglobinopathies options.
As part of the financing, Arix has committed to invest $15.0 million (£11.3 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, the company said.
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, said: “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.”