Electra Therapeutics, a US-based late-stage biotechnology company developing treatments for serious immunological and cancer-related diseases, has successfully closed a USD 183 million Series C financing round. The investment saw significant participation from Abu Dhabi’s Mubadala Capital, joining a syndicate of prominent global investors co-led by EQT Life Sciences and Nextech.
The Strategic Investment
The funding round highlights a strong vote of confidence from a diverse group of new and existing investors. Alongside Mubadala Capital, new participants included global healthcare leader Sanofi and HBM Healthcare Investments. The capital injection is set to accelerate Electra’s mission to develop a new class of precision medicines that selectively target overactive immune cells responsible for driving disease, while crucially preserving normal immune function.
Tackling Critical Immune Diseases
Proceeds from the financing will be primarily allocated to advancing the global registrational Phase 2/3 clinical study of Electra’s lead program, ELA026. This antibody therapy is being developed for secondary hemophagocytic lymphohistiocytosis (sHLH), a severe and life-threatening hyperinflammatory condition with no currently approved therapies. sHLH is often triggered by underlying conditions like cancer or serious infections, causing the immune system to spiral out of control and lead to organ failure. Electra’s approach aims to rebalance the immune system by precisely removing the harmful cells driving the inflammation.
Advancing Clinical Trials and Future Programs
Beyond the pivotal sHLH study, the funding will enable Electra Therapeutics to expand the application of its lead program into hematologic cancers. Furthermore, the capital will be used to establish clinical proof-of-mechanism for its second program, ELA822, which holds broad potential for application across a wide range of immunology and inflammatory diseases. This dual-pronged strategy positions the company to address multiple areas of high unmet medical need.
About Electra Therapeutics
Electra Therapeutics is a clinical-stage biotechnology company dedicated to developing innovative treatments for immune-mediated diseases and cancer. The company is pioneering a new class of precision medicines designed to selectively target and deplete overactive immune cells. This differentiated approach has the potential to deliver more effective and durable therapies for patients affected by serious immune-mediated and inflammatory conditions.
Source: Yahoo Finance
