Arix Bioscience PLC (LON:ARIX), the global venture capital company focused on investing in and building breakthrough biotech companies, has revealed that one of its portfolio companies, Imara Inc. has applied to list on the Nasdaq Global Market.
Arix noted that Imara has filed a registration statement on Form S-1 with the US Securities and Exchange Commission for a proposed initial public offering in shares of its common stock.
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All shares to be sold in the offering will be offered by Imara.
Imara is a clinical-stage biotechnology company focused on developing new medicines to treat patients suffering from rare inherited genetic disorders of haemoglobin.
The group's lead programme is in Phase 2 clinical development for sickle cell disease - a rare, genetic blood disease that leads to a reduction of healthy red blood cells, blocked blood vessels, and a multitude of pathologies.
The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering, the statement said.
It added that a further announcement will be made in due course.