Imara raises $63m for sickle cell drug trials

US biotech Imara has raised $63 million for clinical development of its sickle cell disease drug, which is in mid-stage development. Imara attracted investors including Arix Bioscience, which has invested $15 million for a 10% stake and will also lend support as its investment director Mark Chin has joined Imara’s board, with investment associate John Cassidy joining as an observer. Based in Cambridge, Massachusetts, Imara is developing IMR-687, an oral, highly potent and selective phosphodiesterase 9 (PDE9) inhibitor developed to treat the underlying causes of sickle cell disease. Imara is led by chief executive Rahul Ballal, formerly a chief business officer at Northern Biologics and entrepreneur-in-residence at Versant Ventures. Early clinical data suggests IMR-687 could improve health outcomes and possibly modify the disease’s pathology. Unlike other drugs, IMR-687 works on both red and white blood cells and after a successful phase 1 trial it is being tested in a global phase 2a study in adults with sickle cell disease, including sites in the UK.