Since its launch in 2016 out of New Enterprise Associates’ orphan drug accelerator Cydan — and through its 2020 IPO raising $75 million — Imara has staunchly remained a single-product biotech focused on a drug for sickle cell disease. Even though it eventually in-licensed a second candidate, the lead program loomed disproportionately large.
So as the drug went, so will the company.
A month after selling its top drug — which failed two studies in blood disorders — to the heart disease outfit Cardurion, Imara is handing over its spot on Nasdaq to Enliven Therapeutics through a reverse merger.
Imara shareholders own 16% of the combined company, which will keep the Enliven name. It will have a cash balance of around $300 million and focus on precision oncology.
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