US-based blood disease drug developer Imara secured $63m yesterday in a series B round featuring pharmaceutical firms Lundbeck and Pfizer as well as life science real estate trust Alexandria Real Estate Equities.
Healthcare investments firms OrbiMed and Arix Bioscience co-led the round, with the latter committing $15m in return for a 10% stake in the business. RA Capital, Rock Springs Capital, New Enterprise Associates (NEA) and Bay City Capital also took part in the round.
Lundbeck, Pfizer and Alexandria Real Estate Equities participated in the funding through their respective corporate venturing units: Lundbeckfonden Ventures, Pfizer Ventures and Alexandria Venture Investments.
Imara is developing therapeutics intended to treat sickle cell disease (SCD), a genetic blood disease that turns red blood cells into a rigid, sickle-like shape which can block small blood vessels and cause a range of problems. Its lead drug candidate, IMR-687, is undergoing phase 2a trials in adult SCD Patients.
Imara has now raised $94m since being spun out of orphan drug accelerator Cydan Development in 2016. Lundbeckfond Ventures, Pfizer Venture Investments, Alexandria Venture Investments, NEA and Bay City Capital all invested in its $31m series A round the same year.
Rahul Ballal, Imara’s chief executive officer, said: “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.”