On March 11, 2020, IMARA Inc., a clinical-stage biopharmaceutical company dedicated to developing and commercializing novel therapeutics to treat patients suffering from rare inherited genetic disorders of hemoglobin, known as hemoglobinopathies, priced its initial public offering of 4,700,000 shares of common stock at a public offering price of $16.00 per share, for gross proceeds of $75.2 million. IMARA began trading on March 12, 2020 on the Nasdaq Global Select Market under the trading symbol “IMRA.” The offering closed on March 16, 2020. In addition, the company granted the underwriters an option for a 30-day period to purchase up to 705,000 additional shares of common stock at the initial public offering price, less underwriting discounts and commissions. Proceeds from the offering will be used to advance the development of IMR-687 for the treatment of patients with sickle cell disease and ß-thalassemia.
IMARA was represented by a WilmerHale team led by Cynthia Mazareas, which included Jeffries Oliver-Li, Mhairi Immermann, Sean Linnehan, Taylor Beech, Jenny Moore, Gerard Fischetti, Heidi Treiber, Bruce Manheim, Kim Wethly, and Ben Kelsey.