Arix Bioscience plc: Arix Co-leads $63 Million Series B Investment Round for Imara

<>

This Announcement Contains Inside Information Within the Meaning of The EU Market
                               Abuse Regulation No.596/2014

    - 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

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."

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 [http://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.

Home

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 iniduals 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.

--------------------------------------------------
[1] At exchange rate on 15 March 2019

The content and accuracy of news releases published on this site and/or
distributed by PR Newswire or its partners are the sole responsibility of the
originating company or organisation. Whilst every effort is made to ensure the
accuracy of our services, such releases are not actively monitored or reviewed
by PR Newswire or its partners and under no circumstances shall PR Newswire or
its partners be liable for any loss or damage resulting from the use of such
information. All information should be checked prior to publication.

SOURCE United Business Media

WHAT TO READ NEXT...