Imago BioSciences Announces $26.5 Million Financing Led by Clarus Ventures
SAN FRANCISCO, Oct. 31, 2014 /PRNewswire/ -- Imago BioSciences, Inc., a biotech company developing innovative therapeutics, today announced a $26.5 million Series A financing led by Clarus Ventures LLC, a global investment firm founded by a team of accomplished investment and operating professionals dedicated to life sciences. Other investors participating in the round include Frazier Healthcare, Amgen Ventures, and Merck Research Labs Venture Fund. Representatives from Clarus Ventures and Frazier Healthcare will join the company's board of directors.
"Imago BioSciences is extremely gratified with the makeup of this investment syndicate," said Hugh Young Rienhoff, M.D., CEO at Imago BioSciences. "They comprise a group of experienced financial and strategic investors who provide financial support to progress our clinical development program in a direction important to patients and their physicians."
Proceeds from the financing will be used to advance the research and clinical development program of therapeutics that alter gene expression patterns. The company's clinical focus is on orphan diseases that involve genetic alterations disturbing normal patterns of gene expression, or diseases in which modifying gene expression patterns can have a therapeutic effect.
About Imago BioSciences
Imago BioSciences is a San Francisco-based clinical development company dedicated to translating state-of-the art science into novel medicines for treating diseases that currently pose great challenges to patients, their families and their physicians. The company leverages the skills and extensive experience of its team and the financial commitment of its investors to focus on a small family of orphan diseases. Imago BioSciences translates unique insights into high impact transformative therapies that alter the natural history of disease allowing patients to live longer, disease-free lives. More information is available at www.imagobio.com.
SOURCE Imago BioSciences