SAN DIEGO, July 11, 2019 — Imbria Pharmaceuticals, a clinical stage biopharmaceutical company developing novel therapies that restore cellular energy deficits at the root of cardiovascular diseases and inborn errors of metabolism, today announced the closing of a $50 million convertible note financing from existing investors, led by RA Capital. Proceeds will be used to add essential clinical, medical and operational staff to advance three novel product candidates in the Company’s pipeline. This includes IMB-101, which is currently in Phase 1 clinical development, and will be further developed as a treatment for two separate indications: refractory angina and heart failure with reduced ejection fraction.
“With the support of our existing investors, Imbria has been able to rapidly advance our pipeline programs targeting mechanisms of energy metabolism for the treatment of heart diseases as well as inborn errors of metabolism,” said David-Alexandre C. Gros, M.D., Co-founder, President and CEO of Imbria Pharmaceuticals. “We have achieved a number of key milestones over the past 12 months, including demonstrating preclinical proof of concept of IMB-101 and its ability to improve efficiency of the heart’s energy production, initiating Phase 1 clinical development, and establishing positive safety, tolerability and pharmacokinetic data in our Phase 1 study.”
RA Capital previously led Imbria’s financing in July 2018 in which Sanofi Ventures and Blackwell Partners also participated. Imbria was founded in 2018 by D.A. Gros, M.D., and Andrew Levin, M.D., Ph.D., of RA Capital, and both are members of the Company’s board of directors. Additional board members include Pieter Boelhouwer, J.D., of RA Capital and Gianluca Pirozzi, M.D., Ph.D., of Sanofi.
About Imbria Pharmaceuticals
Imbria Pharmaceuticals uses our deep understanding of cellular energy metabolism to develop novel therapies designed to substantially improve the lives of patients with life-altering diseases. Our clinical stage pipeline is focused on restoring or improving the cell’s ability to produce energy where energy imbalances are at the root of disease, including cardiovascular diseases and inborn errors of metabolism. Our lead program, IMB-101, is currently in Phase 1 clinical development, and will be further developed for two separate indications: refractory angina and heart failure with reduced ejection fraction. Additional product candidates, IMB-202 and IMB-203, are designed to address cellular energy deficiency in patients with rare genetic mutations in mitochondrial metabolism, including those with propionic acidemia and other inborn errors of metabolism. For additional information, please visit www.imbria.com.