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Imago Raises $80m Series C To Take Bomedemstat Into Phase III

Company Plans IPO In 2021 To Fund Additional Pivotal Trials

 
• By Mandy Jackson

The $80m financing will support a Phase III myelofibrosis study for the LSD1 inhibitor and earlier-stage programs, but additional late-stage studies will require an initial public offering, likely next year.

Venture Capital Concept on the Mechanism of Metal Gears.
Imago closed an $80m series C with plans to launch an IPO in 2021 • Source: Shutterstock

Imago BioSciences, Inc. revealed on 19 November that it raised $80m in series C venture capital to fund the first Phase III clinical trial for its lysine-specific demethylase 1 (LSD1 or KDM1A) inhibitor bomedemstat. The company plans to initiate additional Phase III trials in two other indications, but those will have to be funded by an initial public offering, which CEO Hugh Rienhoff said Imago expects to launch in 2021.

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