Elephas Biosciences has secured $40 million in Series B-2 financing to support the launch and commercialization of its Elephas Live Platform, a laboratory-developed test expected to be introduced in 2026. The company, based in Madison, Wisconsin, has developed a proprietary live tumor profiling technology designed to predict how patients may respond to immunotherapy treatments by functionally analyzing ex vivo live tumor biopsies while preserving the tumor microenvironment.
The funding round included reinvestment from the company’s existing investors, including Northpond Ventures, ARCH Venture Partners, the State of Wisconsin Investment Board, Tao Capital Partners, Sands Capital, and Venture Investors Health Fund. The continued support from current backers reflects confidence in Elephas’ platform, which addresses the challenge of low response rates associated with immunotherapy. Only a small percentage of cancer patients currently benefit from such therapies due to limited predictive biomarkers.
The Elephas Live Platform is designed to capture immune activity in real time by maintaining the tumor’s native environment and employing a novel approach to account for tumor heterogeneity. The company anticipates that this approach will yield more accurate predictions of how patients may respond to immunotherapies, potentially expanding access to effective treatment options.
Elephas has also continued to strengthen its scientific leadership. The company recently added Jérôme Galon, Ph.D., to its Scientific Advisory Board. He will join fellow board member Janis Taube, M.D., in a symposium focused on immunotherapy response prediction at the upcoming SITC Annual Meeting on November 8, 2025, in National Harbor, Maryland. XMS Capital Partners served as a financial advisor in connection with the funding round.
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“This financing milestone underscores the strong investor confidence in the promise of Elephas and our shared mission to improve the lives of those affected by cancer. We have made incredible progress this year and have strong momentum heading into 2026. This funding achievement will drive our next stage of growth and advance our commercialization strategy.”
Maneesh Arora, Founder and CEO, Elephas
