Imara Closes a $63MM Series B Cross-Over Financing

-Proceeds to Advance IMR-687 for the Treatment of Sickle Cell Disease
(SCD) and Thalassemia, and Expand Company Pipeline

-New Investors: OrbiMed Advisors, Arix Bioscience, RA Capital, and
Rock Springs Capital

CAMBRIDGE, Mass.–(BUSINESS WIRE)–Imara Inc., a clinical-stage biopharmaceutical company focused on sickle
cell disease (SCD) and other hemoglobinopathies, today announced the
closing of an oversubscribed $63 million Series B cross-over financing.
The fundraise was co-led by new investors OrbiMed Advisors and Arix
Bioscience plc and included investment from RA Capital and Rock Springs
Capital. Existing investors New Enterprise Associates, Pfizer Venture
Investments, Lundbeckfonden Ventures, Bay City Capital, and Alexandria
Venture Investments also participated. Proceeds from the investment will
be used to advance the company’s lead program with IMR-687, currently in
a multi-national Phase 2a clinical trial, into later-stage clinical
trials, fund development of IMR-687 as a potential treatment for
thalassemia, and expand the company’s pipeline.

“This is a transformative financing for Imara – one that will allow us
to greatly expand our sickle cell disease clinical development, widen
our reach into thalassemia, and build an exciting pipeline,” said Rahul
D. Ballal, Ph.D., Chief Executive Officer of Imara. “We are pleased to
be working with leading investors who share our vision for creating a
company that helps change the lives of patients living with SCD and
other hemoglobinopathies. We look forward to our upcoming clinical data
analyses, engaging our clinical investigators, and working closely with
the SCD community to make a positive impact in this challenging disease.”

“Imara’s clinical candidate for sickle cell disease could represent a
significant step forward in a treatment paradigm that’s been languishing
for decades,” said David Bonita, M.D., Partner at OrbiMed Advisors. “By
working on both the white-cell and red-cell aspects of the disease, we
believe IMR-687 is poised to bring needed advancements to patients with
SCD. We are pleased to invest in Imara and support expansion to new
disease areas and pipeline efforts.”

Mark Chin, Investment Director at Arix Bioscience continued by saying,
“Rahul and the growing executive team have impressed us with their focus
on meaningful clinical development and deep engagement with the SCD
community. This financing is an important milestone for Imara as it
seeks to progress its treatments to patients. We are looking forward to
working with the management team to build a leading company in the
hemoglobinopathy space.”

Joining Imara’s board of directors in connection with the financing are:
David Bonita M.D., a Partner at OrbiMed and Arix Bioscience’s Investment
Director Mark Chin. John Cassidy, Ph.D., Investment Associate at Arix
Bioscience and Matthew Hammond, Ph.D., Principal at RA Capital, will
join as observers.

About Sickle Cell Disease
Sickle cell disease is a rare,
genetically inherited condition that alters hemoglobin, the protein in
red blood cells that transports oxygen throughout the body. The altered
hemoglobin distorts red blood cells into a sickle, or crescent, shape.
Painful episodes can occur when sickled red blood cells, which are stiff
and inflexible, get stuck in small blood vessels. These episodes deprive
tissues and organs of oxygen-rich blood and can lead to vaso-occlusive
crisis (VOC), acute chest syndrome (ACS), and permanent damage to organs
including the liver, spleen, kidney, and brain.

About IMR-687
IMR-687 was designed to address the underlying
pathology of sickle cell disease. An orally-administered, highly-potent
and selective phosphodiesterase 9 (PDE9) inhibitor, IMR-687 is a
potentially disease-modifying therapeutic for sickle cell disease as
well as other hemoglobinopathies. Pre-clinical data demonstrate IMR-687
reduces both the sickling of red blood cells and blood vessel occlusion
that cause debilitating pain, organ damage, and early mortality in
affected patients. A Phase 1 clinical trial in healthy volunteers showed
IMR-687 to be safe and well-tolerated. IMR-687 has been granted both
U.S. Orphan Drug Designation and U.S. Rare Pediatric Designation by the
Food and Drug Administration (FDA).

About Imara
Imara
Inc. is dedicated to developing novel therapeutics for patients with
sickle cell disease and other hemoglobinopathies. Imara is currently
developing IMR-687, a highly selective, potent small molecule inhibitor
of PDE9, to treat patients with sickle cell disease. IMR-687 was
specifically designed to treat patients with sickle cell disease by both
reducing red blood cell sickling and blockage of blood vessels that are
underlying causes of the pathology of sickle cell disease. IMR-687
successfully completed a Phase 1 study in healthy volunteers and is
currently being evaluated in a multi-national Phase 2a study in adult
patients with sickle cell disease.

Contacts

Media:
Courtney Heath
617-872-2462
[email protected]