Imara sells failed blood disorder drug to heart disease outfit Cardurion
After whittling itself down from 41 to just six employees following a fruitless readout on its blood disorder drug earlier this year, Imara has found a buyer to exchange the drug for cash.
Imara will be selling its sickle cell disease and beta thalassemia drug to Cardurion Pharmaceuticals, a cardio upstart that got $300 million from Bain last year. The deal is for $35 million upfront, with $10 million in potential downstream clinical development milestones. Imara can also get an additional $50 million on certain regulatory and commercial milestones, according to the SEC filing from Tuesday.
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