Electra Therapeutics, a clinical-stage biotechnology company pioneering therapies against novel targets in immunology and cancer, has announced the close of an oversubscribed $183 million Series C financing round. The round was co-led by Nextech and EQT Life Sciences, with participation from new investors Sanofi, HBM Healthcare Investments, and Mubadala Capital, alongside existing backers including OrbiMed, Redmile Group, New Leaf Venture Partners, Westlake BioPartners, Cormorant Asset Management, Blue Owl Capital, and RA Capital Management.
The funding will advance the global development of the company’s lead product candidate, ELA026, and support its second clinical program, ELA822, advancing its mission to bring transformative treatments to patients with severe and underserved immune-related diseases.
The proceeds from the raise will fund a pivotal Phase 2/3 trial of ELA026 in secondary hemophagocytic lymphohistiocytosis (sHLH), a rare and often fatal hyperinflammatory disease with no approved therapies. The registrational study has already begun dosing patients across multiple research sites in the United States and Europe. Beyond sHLH, Electra plans to expand ELA026 into hematologic cancers, where early data indicate promising potential for clinical benefit. The financing will also drive the advancement of ELA822, a second-generation SIRP-targeted therapy that selectively depletes activated T lymphocytes, into clinical development.
Electra’s innovative approach centers on targeting the Signal Regulatory Protein (SIRP) family—cell surface receptors expressed on immune cells—to deplete pathological immune cells while sparing healthy ones selectively. This precision-driven strategy rebalances immune function and has shown compelling early clinical validation.
In a Phase 1b study of ELA026 in patients with malignancy-associated HLH, treatment achieved 100% overall survival at eight weeks, compared with approximately 50% survival in historical benchmarks. These results provide a strong foundation for expanding the therapy’s potential into additional immune-mediated and inflammatory indications.
The new funding also brings leadership expansion. Thomas Geninatti, PhD, from Nextech, will join Electra’s Board of Directors, and Christoph Broja from EQT Life Sciences will serve as a board observer.
Secondary hemophagocytic lymphohistiocytosis (sHLH) is a rare, life-threatening hyperinflammatory disease often triggered by underlying conditions such as cancer, autoimmune disease, infection, or immunotherapy. Without effective treatment, sHLH can lead to multi-organ failure and death. Mortality among malignancy-associated HLH patients remains high, with approximately 50% of patients dying within two months under current therapeutic options.
How the funding will be used: With this latest investment, Electra Therapeutics is well-positioned to advance its first-in-class SIRP-targeted platform, expanding its clinical footprint in immunology and oncology and offering hope to patients facing diseases that currently lack effective treatment options.
KEY QUOTES:
“We are pleased to have the support of a distinguished group of investors who share our vision to deliver life-changing treatments for patients with underserved diseases. Our team has a proven record of translating novel biology into first-in-class breakthrough therapies, as exemplified by ELA026. With strong momentum, we are driving the pivotal study of ELA026 in sHLH forward and accelerating our second SIRP-targeted program into the clinic.”
Kathy Dong, PharmD, MBA, President and Chief Executive Officer, Electra Therapeutics
“We are very impressed by the compelling clinical data the Electra team has generated for ELA026 in sHLH, a life-threatening disease with a growing patient population. These encouraging results provide validation for targeting SIRP as a novel mechanism and position Electra to expand its application across immunology and oncology. We look forward to partnering with Electra to advance the company’s pipeline and help bring new therapeutic breakthroughs to patients.”
Thomas Geninatti, PhD, Partner, Nextech
