Statement of Changes in Beneficial Ownership (4)

FORM 4 [X] 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 OF SECURITIES
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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/YYYY) 1/27/2020
(Street) BEIRUT, M8 2020-3313 (City) (State) (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)	6. Individual or Joint/Group Filing (Check Applicable Line) ___ Form filed by One Reporting Person _ X _ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. 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)
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	1/27/2020		S		15000	D	$1.77	3284224 ⁽¹⁾	I	See Footnote ⁽¹⁾
Common Stock	1/28/2020		S		12532	D	$1.762 ⁽²⁾	3271692 ⁽³⁾⁽⁵⁾	I	See Footnote ⁽³⁾⁽⁵⁾
Common Stock	1/29/2020		S		17250	D	$1.7645 ⁽⁴⁾	3254442 ⁽⁵⁾⁽⁶⁾	I	See Footnote ⁽⁵⁾⁽⁶⁾

*Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)*
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. 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		7. Title and Amount of Securities Underlying Derivative Security (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)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)			11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:
(1)	Shares sold by Pillar Pharmaceuticals I, L.P. ("Pillar I"). Pillar Invest Corporation ("Pillar GP") disclaims Section 16 beneficial ownership of the securities beneficially owned by Pillar I and this report shall not be deemed an admission that Pillar GP is the Section 16 beneficial owner of any such securities, except to the extent of its pecuniary interest therein, if any, by virtue of its ownership interest in Pillar I. Following this transaction, Pillar I owns directly 21,100 shares of common stock of the Issuer.
(2)	The shares sold on this date were sold in multiple transactions. This price is the weighted average sales price per share of all shares sold on this date; the actual sale prices per share range from $1.76-$1.77. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price.
(3)	Shares sold by Pillar Pharmaceuticals II, L.P. ("Pillar II"). Pillar Invest Corporation ("Pillar GP") disclaims Section 16 beneficial ownership of the securities beneficially owned by Pillar II and this report shall not be deemed an admission that Pillar GP is the Section 16 beneficial owner of any such securities, except to the extent of its pecuniary interest therein, if any, by virtue of its ownership interest in Pillar II. Following this transaction, Pillar II owns directly 20,820 shares of common stock of the Issuer.
(4)	The shares sold on this date were sold in multiple transactions. This price is the weighted average sales price per share of all shares sold on this date; the actual sale prices per share range from $1.76-$1.7707. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price.
(5)	Shares sold by Pillar Pharmaceuticals III, L.P. ("Pillar III"). Pillar Invest Corporation ("Pillar GP") disclaims Section 16 beneficial ownership of the securities beneficially owned by Pillar III and this report shall not be deemed an admission that Pillar GP is the Section 16 beneficial owner of any such securities, except to the extent of its pecuniary interest therein, if any, by virtue of its ownership interest in Pillar III. Following the transactions on 1/28/20 and 1/29/20, Pillar III owns directly 29,998 shares of common stock of the Issuer.
(6)	Shares sold by Pillar Pharmaceuticals V, L.P. ("Pillar V"). Pillar Invest Corporation ("Pillar GP") disclaims Section 16 beneficial ownership of the securities beneficially owned by Pillar V and this report shall not be deemed an admission that Pillar GP is the Section 16 beneficial owner of any such securities, except to the extent of its pecuniary interest therein, if any, by virtue of its ownership interest in Pillar V. Following this transaction, Pillar V owns directly 25,000 shares of common stock of the Issuer.

Reporting Owners
Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Pillar Invest Corp PILLAR INVEST OFFSHORE SAL STARCO CTR, BLOC B, 3RD FLOOR, OMAR DAOUK STREET BEIRUT, M8 2020-3313		X
Pillar Pharmaceuticals I LP PILLAR INVEST OFFSHORE SAL STARCO CTR, BLOC B, 3RD FLOOR, OMAR DAOUK STREET BEIRUT, M8 2020-3313		X
Pillar Pharmaceuticals II, L.P. PILLAR INVEST OFFSHORE SAL, STARCO CTR, BLOC B, 3RD FLOOR, OMAR DAOUK STREET BEIRUT, M8 2020-3313		X
Pillar Pharmaceuticals III, L.P. PILLAR INVEST OFFSHORE SAL STARCO CTR, BLOC B, 3RD FLOOR OMAR DAOUK STREET BEIRUT, M8 2020-3313		X
Pillar Pharmaceuticals IV, L.P. PILLAR INVEST OFFSHORE SAL STARCO CTR, BLOC B, 3RD FLOOR, OMAR DAOUK STREET BEIRUT, M8 2020-3313		X
Pillar Pharmaceuticals V LP PILLAR INVEST OFFSHORE SAL STARCO CTR, BLOC B, 3RD FLOOR, OMAR DAOUK STREET BEIRUT, M8 2020-3313		X
Pillar Pharmaceuticals 6, L.P. PILLAR INVEST OFFSHORE SAL STARCO CTR, BLOC B, 3RD FLOOR, OMAR DAOUK STREET BEIRUT, M8 2020-3313		X
Pillar Partners Foundation, L.P. PILLAR INVEST OFFSHORE SAL STARCO CTR BLOC B, 3RD FLOOR, OMAR DAOUK STREET BEIRUT, M8 2020-3313		X
Umari Abude PILLAR INVEST OFFSHORE SAL STARCO CTR, BLOC B, 3RD FLOOR, OMAR DAOUK STREET BEIRUT, M8 2020-3313		X
ZEIN YOUSSEF EL PILLAR INVEST OFFSHORE SAL, STARCO CTR, BLOC B, 3RD FLOOR, OMAR DAOUK STREET BEIRUT, M8 2020-3313		X