Forward-Looking Statements and Disclaimer This presentation may contain forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited

Advancing Novel Treatments for

Hemoglobin Disorders Corporate Deck: July 2021 CONFIDENTIAL Exhibit 99.1

Forward-Looking Statements and

Disclaimer This presentation may contain forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, (i) the clinical trial design and timing with respect

to reporting of data from the Ardent and Forte Phase 2b clinical trials in patients with sickle cell disease and beta-thalassemia, (ii) the Company's development plans for IMR-687 in heart failure with preserved ejection fraction, (iii) the

Company's beliefs regarding the strength of its clinical data, the tolerability and therapeutic potential of IMR-687 and advancement of its clinical program and (iv) financial guidance regarding the Company's projected operating expenses

and sufficiency of the Company's capital resources to fund its operations into mid-2022. The words "anticipate," "believe," "continue," "could," "estimate," "expect,"

"intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are

intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various

important factors, including, among others: the impact of extraordinary external events, such as the substantial risks and uncertainties resulting from the impact of the COVID-19 pandemic on the Company's business, operations, strategy, goals

and anticipated milestones, including its ongoing and planned research activities and ability to dose and readout data from its OLE clinical trial of IMR-687 in sickle cell disease and its Ardent and Forte Phase 2b clinical trials of IMR-687 in

sickle cell disease and beta-thalassemia; the Company's ability to advance the development of IMR-687 under the timelines it currently projects, demonstrate in any clinical trials the requisite safety and efficacy of IMR-687, replicate

scientific and non-clinical data in clinical trials, obtain and maintain necessary regulatory approvals, obtain, maintain and enforce necessary patent and other intellectual property protection, identify, enter into and maintain collaboration

agreements with third parties, manage competition, manage expenses, raise the substantial additional capital needed to achieve its business objectives, attract and retain qualified personnel, and successfully execute on its business strategies; and

other factors discussed in the "Risk Factors" section of the Company's most recent Quarterly Report on Form 10-Q, which is on file with the Securities and Exchange Commission. Any forward-looking statements contained in this

presentation speak only as of the date of this presentation, and the Company expressly disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise. The Company expects that

subsequent events will cause the Company's views to change. This presentation also contains estimates and other statistical data made by independent parties and by us relating to market size and other data about our industry. This data

involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such data and estimates. In addition, projections, assumptions and estimates of our future performance and the future performance of the markets in

which we operate are necessarily subject to a high degree of uncertainty and risk. Neither we nor our affiliates, advisors or representatives makes any representation as to the accuracy or completeness of that data or undertake to update such data

after the date of this presentation.

Overview: Phase 2b Company with

Clinical Proof-of-Concept in SCD otential disease-modifying therapy for sickle cell disease (SCD) & b- thalassemia IMR-687 Highly selective, oral small molecule inhibitor of phosphodiesterase-9 (PDE9); Increases cGMP Multi-modal MOA shown

to increase HbF, reduce WBC adhesion, and enable RBC maturation Completed 93 subject Phase 2a SCD trial with OLE trial ongoing Clinical POC Phase 2b data readouts at higher doses Next 12 months Phase 2a (n=93): ~40% lower mean annualized VOC rate on

IMR-687 vs. placebo Significantly longer median time to first VOC on IMR-687 vs. placebo: 169 vs. 87 days (p=0.029) Lower mean annualized VOC-related hospitalizations on IMR-687 vs. placebo: 0.84 vs. 1.36 events/yr OLE (n=24): VOC trends in Ph-2a

maintained; 36% of subjects had increase in HbF 3% at 8 months Interim PD readouts on track for studies in H2-2021; clinical activity analyses H1-2022 Enrollment has been robust; 87 sites in >15 countries across trials; TDT sub-group

enrollment complete HFpEF pre-clinical data submitted to medical meeting; in protocol development

Imara: Several Readouts Expected in

Next 12 Months Program H2-2021 H1-2022 H2-2022 Upcoming Milestones/Events Phase 2b Sickle Cell Disease (SCD) Phase 2b b-thalassemia (TDT & NTDT) OLE & Other Interim Data Dose/PD Primary Analysis Interim: 33 subjects @ 24 wks (dose, HbF,

other PD) Primary: 99 subjects @ 24 wks (HbF, annualized VOCs) Final: 99 subjects @ 52 wks (annualized VOCs) OLE SCD subjects will be escalated to Ph-2b high dose Healthy volunteer study for higher dose regimens HFpEF clinical trial protocol in

development Interim: 30 subjects @ 24 wks (dose, pre-transfusion Hb) Clinical Activity: 120 subjects @ 24 wks (transfusions, PD) Final: 120 subjects @ 36 wks (transfusions, PD) TDT Interim Dose/PD TDT/NTDT Clinical Activity TDT/NTDT Final Analysis

Final Analysis HFpEF protocol dev. HV SAD/MD High Dose OLE Data @ Medical Meetings (ASH, EHA etc.)

Imara: Experienced Leadership and BOD

Board of Directors David Mott, Independent (Chair) Laura Williams, MD, Ardelyx Rahul Ballal, PhD, CEO Ed Conner, MD, CMO at Audentes (An Astellas Company) David Bonita, MD, OrbiMed Advisors Mark Chin, Arix Bioscience Barbara Dalton, PhD, Pfizer

Ventures Carl Goldfischer, MD, Bay City Capital Sara Nayeem, MD, Avoro Ventures Rahul Ballal, PhD, CEO Versant Ventures EIR, CBO Northern Biologics Vice President, Business Development, Flexion (NASDAQ: FLXN) Michael Gray, MBA, CFO and COO

CFO/COO/CBO of Arsanis (NASDAQ:ASNS), Curis (NASDAQ:CRIS) Director, Therapeutics Acquisition Corp. (NASDAQ: RACA) Steve Migausky, General Counsel General Counsel, ArQule (NASDAQ: ARQL) (acquired by Merck) Vertex, WilmerHale Lynette Hopkinson, SVP,

Regulatory Affairs & Quality VP, Global Head of of CF Regulatory Strategy and Comm Affairs, Vertex Eisai, Genentech Ken Attie, MD, SVP and CMO VP of Medical Research at Acceleron, developed Luspatercept Altus Pharmaceuticals, Insmed, Inc. and

Sickle Cell Disease (SCD):

Multi-Factorial Diseases with Poor Outcomes ~4.4 million people worldwide | ~230,000 people in the US/EU Shortened Life Expectancy Up to 20-30 years shorter Stroke 11% of subjects experience a stroke by age 20; 24% of subjects experience a stroke by

age 45 Priapism Occurs in 35% of male subjects and can result in erectile dysfunction or necrosis Pain and Crisis subjects experience pain 55% of days; vaso-occlusive crises (VOCs) drive hospitalizations, pain medications Acute Chest Syndrome Occurs

in ~50% of adults (a leading cause of death) Cardiac Complications ~10% of subjects have pulmonary hypertension Hemolysis Destruction of RBCs Kidney Failure High mortality rate within 1 yr. with dialysis The New England Journal of Medicine, Volume

339, Issue 1 BJU International, Volume 90, Issue 9 Kidney International, Volume 57, Issue 1 Annals of Internal Medicine, Volume 48, Issue 2 The New England Journal of Medicine, Volume 350, Issue 9 SCD Prevalence

IMR-687: Multi-modal Mechanism of

Action Nitric oxide (NO)-cGMP pathway is dysregulated in SCD; decreased cGMP levels can lead to reduced blood flow, increased inflammation and greater cell adhesion Inhibition of PDE9 results in increased cGMP, which can lead to increased HbF and

reduced adhesion molecules McArthur et al., Haematologica 2020;105(3):623-631 Increased HbF Decreased WBC adhesion & platelet aggregation GTP GTP PDE9 degrades cGMP into GMP PDE9 GMP GMP GMP GTP sGC NO IMR-687 NO-activated sGC converts GTP to

cGMP IMR-687 inhibits PDE9 leading to an increase in cGMP Decreased sickling Decreased hemolysis cGMP cGMP cGMP cGMP cGMP Effects on Disease Reduced VOCs cGMP cGMP Decreased apoptosis/hemolysis Decreased ineffective erythropoiesis Decreased

-tetramers Increased HbF Sickle Cell Disease -thalassemia

IMR-687: Potential to Impact VOCs

Decreasing the rate of VOC episodes is an important clinical outcome measure in SCD and approvable endpoint: VOCs are painful, can occur multiple times a year, and are a leading cause of ER visits, hospitalization and mortality VOC pain (impacting

legs, arms, back, chest, and abdomen) is difficult to manage Aggregates that block blood vessels and cause VOCs consist of sickled red blood cells as well as activated white blood cells and other vascular elements Targeting RBCs, adhesion and

inflammation is a promising therapeutic approach to reduce VOC rate In Phase 2a studies, IMR-687 was shown to decrease annualized VOC rate, lengthen time to first VOC, and decrease annualized VOC-related hospitalizations vs. placebo Vaso-Occlusive

Crisis (VOC) Illustration (blocked blood flow to tissues)

IMR-687: Phase 2a Studies in Adults

with SCD 6-month* randomized, double-blind, placebo-controlled study, background hydroxyurea (HU) IMR-687 oral, once daily, dose escalation after 1-3 months Primary objective: Safety and tolerability Secondary & exploratory

objectives: PK profile, PD biomarkers, VOCs, patient-reported outcomes N=17 subjects on monotherapy IMR-687 N=7 subjects on combination IMR-687 + HU 4-year safety study Data presented as of 12May2021 (labs as of 29Apr2021) OLE Study (N=24, study

ongoing) Parent Study (N=93, study completed) N Parent Study 20 Placebo 12 50 mg 100 mg 26 100 mg 200 mg 10 Placebo 25 50 mg 100 mg Open-Label Extension (OLE) Study 200 mg *In the monotherapy cohorts, all subjects were treated for up to 6 months In

the combination cohorts, 21 subjects were treated for up to 4 months, and 14 subjects were treated for up to 6 months Rollover with (N=17) or without (N=7) treatment interruption Combo IMR-687 + HU, N=35 IMR-687 Monotherapy, N=58 Mono/Combo

Parent Study: Baseline Demographics

& Disease Characteristics VOC = vaso-occlusive crisis IMR-687/Placebo, Monotherapy IMR-687 + HU/Placebo + HU Placebo (N=20) 50/100 mg (N=12) 100/200 mg (N=26) Placebo (N=10) 50/100 mg (N=25) Age, yr, median (range) 34.5 (20, 50) 34 (19, 50) 29

(18, 51) 29 (19, 42) 30 (18, 51) Gender, n: male/female 8 / 12 4 / 8 9 /17 1 / 9 10 / 15 Race, n: black/other or missing 19 / 1 12 / 0 25 / 1 9 / 1 24 / 1 Genotype, n (%) Homozygous HbSS Sickle- 0 Thalassemia

Missing 18 (90.0) 1 (5.0) 1 (5.0) 12 (100) 0 0 23 (88.5) 2 (7.7) 1 (3.8) 10 (100) 0 0 23 (92.0) 0 2 (8.0) Baseline % HbF, mean (SD) 5.1 (3.74) n=19 13.9 (7.65) 9.5 (6.81) n=25 14.6 (7.68) N=9 15.6 (8.28) N=24 Hospitalizations for VOC in Prior

Year, n (%) None 1 2 3 4 Missing 11 (55.0) 4 (20.0) 3 (15.0) 2 (10.0) 0 0 7 (58.3) 1 (8.3) 1 (8.3) 2 (16.7) 0 1 (8.3) 14 (53.9) 7 (26.9) 3 (11.5) 1 (3.8) 1 (3.8) 0 7

(70.0) 0 2 (20.0) 0 0 1 (10.0) 11 (44.0) 7 (28.0) 1 (4.0) 4 (16.0) 2 (8.0) 0 Overall: 38% of pts hospitalized for VOC in placebo groups vs. 48% of subjects in IMR-687 groups (prior year)

Parent and OLE Studies: Safety

Summary IMR-687 was well tolerated as a monotherapy and in combination with HU No treatment-related serious adverse events (SAEs) or treatment-related Grade 3 adverse events (AEs) in IMR-687 groups No clinically significant changes in

laboratory safety data, ECG, or vital signs; no cases of neutropenia In parent study, AEs leading to treatment discontinuation occurred in 3/30 (10%) on placebo, 5/63 (8%) on IMR-687 Parent Study OLE Study IMR-687/Placebo, Monotherapy Population A1

(No-HU) IMR-687 + HU/Placebo + HU IMR-687 HU Placebo (N=20) IMR-687 50 mg/100 mg (N=12) IMR-687 100 mg/200 mg (N=26) Placebo (N=10) IMR-687 50 mg/100 mg (N=25) IMR-687 200 mg (N=24) Sickle cell anemia crisis 14 (70.0)

6 (50.0) 14 (53.8) 7 (70.0) 10 (40.0) 3 (12.5) Headache 4 (20.0) 2 (16.7) 8 (30.8) 4 (40.0) 12 (48.0) 5 (20.8) Nausea 0 2 (16.7) 8 (30.8) 5 (50.0) 4 (16.0) 3 (12.5) Back pain 2 (10.0) 0 6

(23.1) 2 (20.0) 1 (4.0) 4 (16.7) Upper respiratory tract infection* 2 (10.0) 3 (25.0) 1 (3.8) 2 (20.0) 2 (8.0) 1 (4.2) Abdominal Pain 1 (5.0) 1 (8.3) 6 (23.1) 0 4 (16.0) 2 (8.3) Adverse Events Reported in 20% subjects in any

IMR-687 Group, N (%) PRELIMINARY DATA *includes nasopharyngitis

0 2 4 6 8 10 12 14 Parent Study

(N=93): Annualized VOC Rate Lower on IMR-687 VOCs, as captured in safety database, were less frequent on IMR-687 vs. placebo (includes subjects with/without HU): Mean annualized VOC rate: 40% lower in pooled IMR-687 vs. placebo groups Median

annualized VOC rate: 0/yr in pooled IMR-687 vs. 1.87/yr in placebo groups subjects with zero VOCs: 52% (33/63) in pooled IMR-687 vs. 30% (9/30) in placebo groups ---------IMR-687--------- Mean Annualized VOC Rate Individual Distribution of

Annualized VOC Rate 0 VOCs: 30% (9/30) 0 VOCs: 52% (33/63) Annualized VOC Rate Outliers included in analysis but not shown: 33.2 in Placebo group; 20.8 in IMR-687 group IMR-687 (pooled) (N=63) Placebo (N=30) Median: Placebo: 1.87/yr Pooled IMR-687:

0/yr* *p=0.048 by Mood's median test p=0.077 by Wilcoxon test [68% on HU] [0% on HU]

Parent Study (N=93): Annualized VOC

Hospitalization Rate Lower on IMR-687 Historical Data: 38% of sub. hospitalized for VOC in placebo groups vs. 48% of subjects in IMR-687 groups (previous 12 months) VOC hospitalizations, as captured in safety database, were less frequent in pooled

IMR-687 vs. placebo groups (with/without HU) Mean annualized VOC hospitalization rate: 38% lower in pooled IMR-687 vs. placebo groups subjects with zero VOC hospitalizations: 79% (50/63) in pooled IMR-687 vs. 67% (20/30) in placebo groups Individual

Distribution of VOC Hospitalization Rate Mean Annualized VOC Hospitalization Rate 0 VOC Hosp: 79% (50/63) IMR-687 (N=63) Placebo (N=30) Annualized VOC Hospitalization Rate 0 2 4 6 8 10 12 14 Median: Placebo: 0/yr IMR-687: 0/yr* *p=0.187 by

Mood's median test p=0.195 by Wilcoxon test 0 VOC Hosp: 67% (20/30)

Parent Study, on HU (N=35):

Annualized VOC Rate Lower on IMR-687 Historical Data: 22% of subjects on placebo+HU had VOC related hospitalization in the past 12 months vs. 56% in IMR-687+HU Mean annualized VOC rate: 68% lower in IMR-687 + HU vs. placebo + HU group Median

annualized VOC rate: 0/yr in IMR-687 + HU vs. 3.8/yr in placebo + HU group subjects with zero VOCs: 60% (15/25) in IMR-687 + HU vs. 30% (3/10) in placebo + HU group 0 VOCs: 30% (3/10) 0 VOCs: 60% (15/25) IMR-687 + HU (N=25) Placebo + HU (N=10)

Individual Distribution of Annualized VOC Rate Annualized VOC Rate Mean Annualized VOC Rate Outlier included in analysis but not shown: 33.2 in Placebo + HU group 0 2 4 6 8 10 12 14 Median: Placebo + HU: 3.80/yr IMR-687 + HU: 0/yr* *p=0.114 by

Mood's median test p=0.077 by Wilcoxon test

Parent Study (N=93): Time to 1st VOC

Longer on IMR-687 Kaplan-Meier analysis of time to 1st VOC; subjects censored if discontinued prior to having VOC Median time to first VOC for pooled IMR-687 groups was significantly longer than placebo groups, 169 days vs. 87 days,

respectively (p=0.029) 30 19 13 6 0 37 28 22 12 3 26 16 14 11 2 63 44 36 23 5 No. at risk: Pooled IMR-687 vs placebo: Log-rank p=0.029 Placebo IMR-687 - 50/100 mg IMR-687 - 100/200 mg IMR-687 - pooled 0 100 150 200 50

Cumulative Event Rate (%) 60 40 20 0 80 70 50 30 90 10 Study Day: 100

Parent Study (N=47): Annualized VOC

Rate vs IMR-687 Exposure (AUC) Trend for decreased annualized VOC rate with increasing IMR-687 exposure (AUC0-24h); higher dose has potential to further reduce VOC rate Pearson Correlation: r = -0.233 (p = 0.1192) Annualized VOC Rate 0 5000 10000

15000 7.5 5.0 2.5 0.0 AUC[0-24h] (h*ng/mL) Placebo IMR-687-50/100mg IMR-687-100/200mg

Parent Study: ASCQ-Me Pain Episode

Severity Reduced on IMR-687 * * p=0.023 vs placebo ASCQ-Me is an NIH validated SCD patient reported outcome (PRO) instrument Two sub-domains report pain episode (VOC) frequency and severity; lower values = improvement Pain episode severity score was

significantly lower in favor of IMR-687 100/200mg group vs placebo (p=0.023) LS Mean (SEM) change from baseline to Week 24 by ANCOVA ASCQ-Me = Adult Sickle Cell Quality Of Life Measurement System

OLE Study: Annualized VOC Rate

Extends Parent Study Findings PRELIMINARY DATA Includes subjects with or without stable background HU therapy, treated for minimum of 200 days in OLE study (N=18) Subjects previously treated with IMR-687 maintained low VOC rate in OLE study Subjects

previously treated with placebo had a 39% reduction in VOC rate when switched to IMR-687 in OLE study Subjects on IMR-687 during Parent Study Subjects on Placebo during Parent Study (N=13) (N=5)

Parent Study, IMR=687 Monotherapy:

HbF (%) and F-Cells (%) *p<0.05 vs placebo F-cells (%) The percentage of hemoglobin made up of HbF (left) is driven by percentage of RBCs containing HbF, or F-cells (right) HbF: LS mean difference between pooled IMR-687 monotherapy groups and

placebo groups increased over time F-cells: LS mean difference between pooled IMR-687 and placebo groups was significant by Weeks 20-24 BL W4 W8 W12 W16 W20 W24 Placebo 18 14 14 11 10 8 7 IMR-687 32 26 26 23 21 20 20 Number of subjects Per Given