LONDON, UK: Arix Bioscience plc (LSE: ARIX), a global venture capital company focused on investing in breakthrough biotechnology companies, notes that its portfolio company, Imara Inc. has entered into a definitive merger agreement with Enliven Therapeutics Inc. to create a Nasdaq-listed clinical-stage biopharmaceutical company in an all-stock transaction.

Enliven Therapeutics is a clinical-stage biopharmaceutical company focused on the discovery and development of small molecule inhibitors to help patients with cancer live not only longer, but better. Enliven aims to address existing and emerging unmet needs with a precision oncology approach that improves survival and enhances overall patient well-being.

Enliven’s discovery process combines deep insights from clinically validated biological targets and differentiated chemistry to design potentially first-in-class or best-in-class therapies. Enliven is based in Boulder, Colorado.

The combined company will focus on advancing Enliven’s pipeline of precision oncology product candidates. Upon shareholder approval, the combined company is expected to operate under the name Enliven Therapeutics, Inc. and trade on the Nasdaq Global Select Market under the ticker symbol ELVN.

In support of the merger, Enliven also intends to raise approximately $165 million in a concurrent private financing co-led by new investors Fairmount and Venrock Healthcare Capital Partners, with participation from additional new investors, which include Fidelity Management & Research Company, RA Capital Management, Frazier Life Sciences and Commodore Capital.

With the cash expected from both companies at closing and the proceeds of the planned concurrent financing, the combined company is currently expected to have approximately $300 million of cash and cash equivalents at closing, after transaction expenses.

The cash resources are expected to be used to advance Enliven Therapeutics pipeline through multiple clinical milestones and provide runway into early 2026.

Robert Lyne, CEO of Arix Bioscience, stated: “The merger of Enliven with Imara will bring a differentiated, clinical stage pipeline of precision oncology assets to the public market. We are pleased to note that with the proposed financing backed by a group of top tier investors, the combined company will be well funded with sufficient cash to achieve multiple clinical development milestones into 2026.”