Sec Form 4 Filing - Pillar Invest Corp @ IDERA PHARMACEUTICALS, INC. - 2020-05-12

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Pillar Invest Corp 2. Issuer Name and Ticker or Trading Symbol IDERA PHARMACEUTICALS, INC. [ IDRA] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director X __ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) PILLAR INVEST OFFSHORE SAL STARCO CTR,, BLOC B, 3RD FLOOR, OMAR DAOUK STREET 3. Date of Earliest Transaction (MM/DD/YY) 05/12/2020 (Street) BEIRUT, M82020-3313 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) _____ Form filed by One Reporting Person __ X __ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Common Warrants ( 1 ) ( 2 ) 05/12/2020( 1 )( 2 ) P 3,039,514 ( 1 )( 2 ) ( 1 )( 2 ) Common Stock 3,039,514 ( 1 ) ( 2 ) 3,039,514 I By Pillar Partners Foundation, L.P. See Footnote ( 3 )

R eporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Pillar Invest Corp PILLAR INVEST OFFSHORE SAL STARCO CTR, BLOC B, 3RD FLOOR, OMAR DAOUK STREET BEIRUT, M82020-3313 X Pillar Partners Foundation, L.P. PILLAR INVEST OFFSHORE SAL STARCO CTR, BLOC B, 3RD FLOOR, OMAR DAOUK STREET BEIRUT, M82020-3313 X Umari Abude PILLAR INVEST OFFSHORE SAL STARCO CTR, BLOC B, 3RD FLOOR, OMAR DAOUK STREET BEIRUT, M82020-3313 X ZEIN YOUSSEF EL PILLAR INVEST OFFSHORE SAL STARCO CTR, BLOC B, 3RD FLOOR, OMAR DAOUK STREET BEIRUT, M82020-3313 X Signatures Pillar Invest Corporation, /s/ Youssef El Zein, Authorized Person 09/04/2020 Signature of Reporting Person Date Pillar Partners Foundation, L.P., /s/ Youssef El Zein, Authorized Person 09/04/2020 Signature of Reporting Person Date /s/ Abude Umari 09/04/2020 Signature of Reporting Person Date /s/ Youssef El Zein 09/04/2020 Signature of Reporting Person Date

Explanation of Responses:

( 1 )On April 7, 2020, upon the consummation of a private placement of the Issuer, Pillar Partners Foundation, L.P. ("Pillar Foundation"), acquired, in the Private Placement, 3,039,514 shares of common stock (the "Pillar Foundation Shares") as well as warrants to purchase 3,039,514 shares of common stock of the Issuer (the "Pillar Foundation Warrants"). Each Pillar Foundation Share and the associated Pillar Foundation Warrant had a combined purchase price of $1.645, which combined purchase price included $0.125 for each share of common stock underlying each Pillar Foundation Warrant. The exercise price of each Pillar Foundation Warrant is $2.28 per share, subject to adjustment pursuant to the terms of the Pillar Foundation Warrants and the Pillar Foundation Warrants expire 3 years from their issuance date. ( 2 )The Pillar Foundation Warrants became exercisable on May 12, 2020 following receipt of shareholder approval for the sufficient increase in the Issuer's authorized shares of common stock to cover the exercise of the Pillar Foundation Warrants. The Pillar Foundation Warrants are exercisable, to the extent that after giving effect to such exercise the holders thereof and their affiliates would beneficially own, for purposes of Rule 13d-3 under the Securities Act of 1934, as amended, no more than 19.99% of the outstanding shares of Common Stock of the Issuer. ( 3 )Pillar Invest Corporation ("Pillar GP") is the general partner of Pillar Pharmaceuticals I, L.P., Pillar Pharmaceuticals II, L.P., Pillar Pharmaceuticals III, L.P., Pillar Pharmaceuticals IV, L.P., Pillar Pharmaceuticals V, L.P., Pillar Pharmaceuticals 6, L.P. and Pillar Foundation (collectively, the "Pillar Funds"). Youssef El Zein and Abude Umari are directors of Pillar GP. Each of Pillar GP, Mr. El Zein and Mr. Umari disclaims Section 16 beneficial ownership of the securities beneficially owned by the Pillar Funds and this report shall not be deemed an admission that any of Pillar GP, Mr. El Zein or Mr. Umari is the Section 16 beneficial owner of any such securities, except to the extent of its or his pecuniary interest therein, if any, by virtue of its or his ownership interest in the Pillar Funds or Pillar GP, as applicable.

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