THIS ANNOUNCEMENT CONTAINS INSIDE
INFORMATION WITHIN THE MEANING OF THE EU MARKET ABUSE REGULATION
NO.596/2014
Arix Bioscience
plc
Arix co-leads
$63 million Series B investment round
for Imara
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 (£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.
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
+44 (0)207 290 1072
charlotte@arixbioscience.com
Optimum Strategic Communications
Mary Clark, Supriya Mathur
+44 (0)203 950 9144
optimum.arix@optimumcomms.com
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.