Electra Therapeutics Announces $183 Million Series C Financing to Advance First-in-Class SIRP-Targeted Therapies for Immune Disorders and Cancer
Proceeds will fund a global pivotal trial of lead product candidate, ELA026, as a frontline treatment for secondary hemophagocytic lymphohistiocytosis (sHLH)
Financing will also support indication expansion of ELA026 in hematologic cancers and advance second pipeline program, ELA822, into the clinic for diseases in immunology and inflammation (I&I)
Financing co-led by Nextech and EQT Life Sciences, with participation from additional new investors including Sanofi, HBM Healthcare Investments, and Mubadala Capital, alongside existing investors
SOUTH SAN FRANCISCO, Calif., Oct. 22, 2025 (GLOBE NEWSWIRE) -- Electra Therapeutics, a clinical stage biotechnology company pioneering therapies against novel targets for diseases in immunology and cancer, today announced an oversubscribed $183 million Series C financing. The round was co-led by Nextech and EQT Life Sciences, with participation from new investors Sanofi, HBM Healthcare Investments, and Mubadala Capital, as well as existing investors OrbiMed, Redmile Group, New Leaf Venture Partners, Westlake BioPartners, Cormorant Asset Management, Blue Owl Capital, and RA Capital Management.
Proceeds from the financing will fund a global pivotal Phase 2/3 study of ELA026 in secondary hemophagocytic lymphohistiocytosis (sHLH), a hyperinflammatory disease with high mortality and a lack of treatment options. The pivotal study is enrolling patients at research sites across the U.S. and Europe and has initiated dosing. Beyond sHLH, Electra is also evaluating ELA026 in hematologic cancers, where initial clinical data have shown potential for promising therapeutic benefit. The financing will further support advancement of ELA822, Electra’s second SIRP-targeted program that selectively depletes activated T lymphocytes, into the clinic and through initial data readouts.
“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,” said Kathy Dong, PharmD, MBA, President and CEO of Electra Therapeutics. “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.”
Electra has pioneered the development of novel therapies targeting SIRP, a family of cell surface receptors, to selectively deplete pathological immune cells. This approach was clinically validated in the Phase 1b study of ELA026 in sHLH, where frontline treatment with ELA026 in malignancy-associated HLH patients achieved 100% overall survival at 8 weeks, compared with approximately 50% reported for available therapies in historical benchmarks. These results provide a foundation to expand development of ELA026 into additional indications and to advance ELA822 for broad application across immunology and inflammation (I&I).
In conjunction with this financing, Thomas Geninatti, PhD from Nextech will join Electra’s board of directors and Christoph Broja from EQT Life Sciences will join as board observer.
“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,” said Thomas Geninatti, PhD. “We look forward to partnering with Electra to advance the company’s pipeline and help bring new therapeutic breakthroughs to patients.”
About Secondary Hemophagocytic Lymphohistiocytosis (sHLH)
Secondary hemophagocytic lymphohistiocytosis (sHLH) is a rare, life-threatening hyperinflammatory disease with a lack of treatment options. It can be triggered by cancer, infection, autoimmune disease, or immunotherapy. sHLH is associated with a severe inflammatory response that requires immediate intervention. Without effective treatment, patients may experience multiorgan failure and death. sHLH is associated with high mortality early in the disease course, with malignancy-associated HLH (mHLH) patients having a mortality rate of approximately 50% at two months with available therapies.
About Electra Therapeutics
Electra Therapeutics is a clinical stage biotechnology company pioneering therapies against novel targets for diseases in immunology and cancer. The company’s lead product candidate, ELA026, is a first-in-class monoclonal antibody that targets signal regulatory proteins (SIRP) on immune cells to selectively deplete pathological myeloid cells and T lymphocytes. ELA026 is currently in pivotal development for secondary hemophagocytic lymphohistiocytosis (sHLH) and is also being evaluated in additional indications. Electra is further advancing a second SIRP-targeted program, ELA822, designed to selectively deplete activated T lymphocytes, with broad potential across immunology and inflammation (I&I). For more information, please visit www.electra-therapeutics.com and follow us on LinkedIn.
Media Contact: Kathryn Morris The Yates Network 914-204-6412 kathryn@theyatesnetwork.com
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