SAN FRANCISCO–(BUSINESS WIRE)–Imago BioSciences, Inc. (“Imago”), a clinical stage biopharmaceutical company developing innovative treatments for myeloid diseases, today announced the appointment of Edgardo Baracchini, Ph.D., as chief business officer. Dr. Baracchini will lead the company’s corporate growth strategy, business development and partnership opportunities.
“Ed is an accomplished biotechnology executive who has demonstrated his capabilities in executing numerous partnerships, licensing arrangements, raising capital and completing M&A transactions,” said Hugh Young Rienhoff, Jr. M.D., CEO, Imago BioSciences. “We are delighted to have Ed join the company. He will take us to the next stage of corporate development as we progress the clinical programs with Bomedemstat (IMG-7289) to Phase 3 and beyond. Ed brings a unique passion to Imago, as we work to meet the challenge of addressing diseases of the bone marrow.”
Dr. Baracchini has negotiated more than 80 transactions with biopharma companies and academic partners, leading to agreements valued at more than $5.3 billion. In addition, he has been a key member of executive teams that have raised over $850 million in private and public financing. Dr. Baracchini joins Imago from Xencor, Inc., where he was chief business officer from 2010 to 2018. Previously, he was head of business development at Metabasis Therapeutics from 2002 until its merger with Ligand Pharmaceuticals in 2009. Previously, Dr. Baracchini held business development positions of increasing responsibility at Elitra Pharmaceuticals, Agouron Pharmaceuticals and Ionis Pharmaceuticals. Dr. Baracchini earned a B.S. in microbiology from the University of Notre Dame, a Ph.D. in molecular and cell biology from the University of Texas Southwest at Dallas, and an M.B.A. from the University of California, Irvine.
“I’m proud to be part of a team that is pioneering first-in-class medicines for the treatment of life-threatening diseases of the bone marrow,” said Dr. Baracchini. “New strategic partnerships and targeted corporate growth opportunities will enable us to accelerate this process, and I am thrilled to join Imago to help chart an exciting path forward for achieving this goal.”
About Bomedemstat (IMG-7289)
Bomedemstat is a small molecule discovered by Imago BioSciences that inhibits lysine-specific demethylase 1 (LSD1 or KDM1A), an enzyme essential for production and normal function of megakaryocytes and for self-renewal of malignant hematopoietic stem or progenitor cells. Megakaryocytes are the primary producer of platelets and cytokines that drive essential thrombocythemia pathogenesis. In non-clinical studies, Bomedemstat demonstrated robust in vivo efficacy as a single agent, and in combination with other therapeutics across a range of myeloid malignancy models including the myeloproliferative neoplasms encompassing myelofibrosis, essential thrombocythemia and polycythemia vera. The FDA has also granted Fast Track designation to Bomedemstat for the treatment of myelofibrosis and essential thrombocythemia. Imago is currently enrolling patients in an international Phase 2b study in myelofibrosis. In this study, IMG-7289 has reduced spleen volumes and substantially improved symptom scores in a majority of evaluable patients. For more information visit www.clinicaltrials.gov (NCT03136185). Additional clinical studies in hematologic disorders will begin in 2020.
About Imago BioSciences
Imago BioSciences is a clinical stage, venture-backed biopharmaceutical company whose investors include a fund managed by Blackstone Life Sciences, Frazier Healthcare Partners, Omega Funds, Amgen Ventures, MRL Ventures Fund, HighLight Capital, Pharmaron, Greenspring Associates and Xeraya Capital, as well as other corporate and venture investors.