Imago BioSciences Announces $40 Million Series B Financing Led by Omega Funds
Imago BioSciences, Inc., a clinical-stage biotechnology company developing innovative treatments for myeloid diseases, today announced a $40 million Series B financing led by Omega Funds, a leading international investment firm that creates and invests in life sciences companies. Other investors participating in the round include existing investors Frazier Healthcare Partners, Amgen Ventures, and MRL Ventures Fund as well as HighLight Capital, Pharmaron and Greenspring Associates. Dr. Dina Chaya from Omega Funds will join the board of directors and Dennis Henner will remain Chairman of the Board, representing his fund.
“Imago BioSciences is extremely gratified with the interest and support of the investment community; we are particularly pleased with the composition of this new investment syndicate,” said Hugh Young Rienhoff, Jr. M.D., CEO at Imago BioSciences. “These funds will enable Imago to advance our programs through the completion of Phase 2b studies.”
“We are excited to work with the team at Imago BioSciences, who have already demonstrated very promising results with their lead program IMG-7289 in preclinical and clinical studies,” says Dr. Dina Chaya of Omega Funds.
“Frazier, along with the full support of the Series A syndicate, were enthusiastic about this financing. We view the program to treat myeloproliferative diseases as extremely promising,” said Patrick Heron of Frazier Healthcare Partners.
Proceeds from the financing will be used to advance the research and clinical development program of therapeutics for myelofibrosis and other myeloid neoplasms. In late 2018 Imago completed a Phase 1/2a study of IMG-7289 in patients with acute myeloid leukemia and high-risk myelodysplastic syndrome (NCT02842827). Imago recently initiated a global Phase 2b study in patients with myelofibrosis (NCT03136185). Additional indications for IMG-7289 are planned.
IMG-7289 is a small molecule developed by Imago BioSciences that inhibits lysine-specific demethylase 1 (LSD1 or KDM1A), an enzyme regulating cytokine expression and shown to be vital in sustaining self-renewal in cancer stem/progenitor cells, particularly neoplastic bone marrow cells. In non-clinical studies, IMG-7289 demonstrated robust in vivo anti-tumor efficacy across a range of myeloid malignancies and models of myeloproliferative neoplasms as a single agent and in combination with other therapeutic agents. IMG-7289 also shows activity against solid tumors in combination with other agents in non-clinical models.
About Imago BioSciences
Imago BioSciences is a clinical-stage, venture-backed pharmaceutical company focused on improving the management of proliferative diseases of the bone marrow and modulation of the immune system. The company is currently focused on neoplastic diseases of the bone marrow including acute myeloid leukemia, myelodysplastic syndrome, polycythemia vera, myelofibrosis and essential thrombocythemia. The company is based in California.
Please see the website at www.imagobio.com for additional information.
About Omega Funds
Founded in 2004, Omega Funds is a leading international investment firm that creates and invests in life sciences companies that address our world’s most urgent medical needs. Having raised more than $1 billion since its inception, Omega specializes in identifying and powering companies through value inflection points across the full arc of innovation, from company formation through clinical milestones and commercial adoption. Omega Funds' portfolio companies have brought 33 products to market in multiple therapeutic areas, including oncology, rare diseases, precision medicine and others.
Please see the website at www.omegafunds.net for additional information.
Investor and Media Contact:
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Masergy Releases 2019 SD-WAN Market Trends Report16.7.2019 11:00:00 CEST | Press release
Masergy, a leading provider of managed SD-WAN, cloud communications and managed security solutions, today announced results from its new 2019 SD-WAN Market Trends Survey, which found that security drives selection, skills gaps remain a primary obstacle to adoption, and adoption continues to rise. The survey, conducted in partnership with IDG Research, analyzed responses from IT decision makers in global enterprises across a variety of industries. This survey was also conducted in 2017 as a benchmark in order to measure SD-WAN trends over time. Optimizing the network to support cutting-edge technology stands out as the most prominent objective that was covered in the survey. Most survey participants find that security is the biggest WAN challenge, even outweighing cost concerns. Managing numerous users, devices, and locations is also an increasing pain point. Key findings from the 2019 survey include: ● Optimizing the network to support cutting-edge technologies remains the top WAN obje
LuxTrust and Cambridge Blockchain Announce Private Beta for Privacy-Protecting Identity Platform IDKEEP16.7.2019 10:50:00 CEST | Press release
LuxTrust S.A., a leading Digital Trust Services Provider in Luxembourg, and Cambridge Blockchain Inc. , a pioneer in digital identity enterprise Software, announced the private beta-testing phase for privacy-protecting European identity platform IDKEEP . Designed to resolve identity and personal-data related challenges faced by many digital service providers — such as banks and financial services, insurance, and healthcare, among others—IDKEEP is a huge step forward towards data ownership and control. The platform provides end users with full control over personal data and over sharing such data with services online, helping digital organizations to effectively manage consent as per GDPR rules and effectively manage validated users’ data, enabling trusted transactions online. In addition, IDKEEP opens a marketplace for data validators who can leverage a network effect of a large customer base, realizing efficiencies and re-use of expensive data validation processes. IDKEEP was develope
Wildz Casino Leads the Way in iGaming Machine Learning and Automation16.7.2019 09:00:00 CEST | Press release
As iGaming continues to expand into new global markets, Wildz Casino has entered the game at a time when innovation and ‘Machine Learning’ are emerging as dominant factors in this industry. Powered by a Rootz platform allowing for full automation, early signs are promising. Optimisation based on customer preferences has increased player value by 27% with streamlined, automated processes improving efficiency in all facets of the business. In today’s iGaming industry, it appears the innovative team behind Wildz.com are leading the charge into a ‘Machine Learning’ assisted future. By 2025, the global AI market is projected to be valued at almost $60 billion compared to $1.4 billion just a few years ago. Compared to competitors, Wildz has entered the market early. The result? A perfectly functioning machine, easy on the eye, with superb player incentives and an unrivalled Loyalty+ programme. Wildz by Rootz is powering Machine Learning and Automation into the iGaming future. Learn more abou
LifeSpan BioSciences Announces the Acquisition of Everest Biotech16.7.2019 08:00:00 CEST | Press release
LifeSpan BioSciences (LSBio™), a leading provider of antibodies and life science research reagents, is pleased to announce its acquisition of Everest Biotech. Everest Biotech are ISO 9001:2015 certified experts in antigen affinity purified goat polyclonal antibodies. The acquisition of Everest Biotech further expands LSBio’s product offering and strengthens the company’s position as one of the fastest growing providers in the research reagent market. Through its partnerships, LSBio now offers a comprehensive catalogue of reagents that can be coupled with their extensive collection of IHC validated primary antibodies. “We are looking forward to adding the Everest Biotech product range to the LSBio portfolio,” said Heather Holemon, CEO of LSBio. “Everest Biotech products are of exceptionally high quality and perfectly complement our existing portfolio.” The Everest Biotech commitment to quality and continuous improvement has ensured the growth of their catalogue, which now contains thous
AppyParking Closes £7.6 Million Series A Funding16.7.2019 07:00:00 CEST | Press release
AppyParking, the kerbside management and mobility technology firm that is transforming parking for motorists and empowering local authorities and car park operators to better manage their assets, announced that the company has just closed a £7.6 million Series A round. The funding round includes new strategic investment from Hyundai Motor Company and Sumitomo Corporation. It was led by West Hill Capital, the London based venture capital firm, with participation from existing investors Aviva Ventures and Breed Reply. The investment brings AppyParking’s total funding since launch to over £11 million and will enable the company to accelerate product development, support domestic and international growth and continue to expand their talented team. Founded in 2013 with the launch of their award-winning smart parking app, AppyParking is on a mission to make parking forgettable and help prepare cities for the rise of autonomous vehicles. They were the first company in the world to focus on th
Dubai to Organise Global Investment in Aviation Summit in January 202016.7.2019 07:00:00 CEST | Press release
The General Civil Aviation Authority (GCAA) of UAE has announced that the second edition of Global Investment in Aviation Summit (GIAS) 2020, themed ‘Enabling Global Aviation Growth through Fund Raising and Key Partnerships’ will be held in Dubai from January 27-29. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190716005136/en/ Saif Mohammed Al Suwaidi, Director General of the GCAA (Photo: AETOSWire) Over 200 investors and 1,200 delegates, besides selected government officials, aviation organisations, finance & insurance firms, aviation asset owners, aircraft operators & logistic service providers and legal consultants are expected to turn up at the event. While disclosing the details of the summit Saif Mohammed Al Suwaidi, Director General of the GCAA, highlighted the UAE’s remarkable position in the international and regional aviation industry. Al Suwaidi said, “The national agenda for 2021 aims for UAE to be the world fi