IMRA - Cancer drug developer Enliven Therapeutics and Imara to merge in all-stock deal

• Pharmaceutical firms Enliven Therapeutics and Imara ( NASDAQ: IMRA ) have agreed to merge in an all-stock transaction.
• The combined company will focus on advancing Enliven's pipeline of precision oncology product candidates, IMRA said in a statement on Thursday.
• Enliven has two cancer drug candidates.
• The merged entity will be renamed Enliven Therapeutics and is expected to trade on the Nasdaq Global Select Market under the ticker symbol ELVN.
• To support the merger, Enliven also intends to raise about $165M in a concurrent private financing co-led by new investors Fairmount and Venrock Healthcare Capital Partners.
• The combined company is expected to have a cash balance of about $300M at close.
• IMRA stock earlier closed +4.5% at $2.58.

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