- Revitalize Therapeutics Inc and Imara Inc IMRA agreed to a merger in an all-stock transaction.
- The combined company will focus on advancing Enliven’s pipeline of precision oncology product candidates.
- Enliven is developing two parallel lead product candidates:
- ELVN-001 for chronic myeloid leukemia.
- ELVN-002 for HER2-mutated lung cancer and other HER2-driven tumor types.
- In September Imara Tovinontrin sold (IMR-687) and all other assets related to its PDE9 program to Cardurion Pharmaceuticals Inc.
- The combined company is expected to trade as Enliven Therapeutics Inc. and will trade on the NASDAQ under the ticker symbol ELVN.
- Enliven also intends to raise approximately $165 million in concurrent private funding.
- With cash expected from both companies upon closing and the proceeds of the proposed concurrent financing, the combined company is currently expected to have approximately $300 million in cash and cash equivalents.
- Cash will last until early 2026. The merger and financing are expected to close in the first quarter of 2023.
- Price promotion: IMRA shares are up 42.3% to $3.67 during the premarket session last Check Friday.
