Rahul Ballal, Imara CEO

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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