SOUTH SAN FRANCISCO, Calif., Oct. 22, 2025 – Electra Therapeutics, a clinical-stage biotechnology company pioneering next-generation therapies for diseases in immunology and cancer, today announced the successful 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 including Sanofi, HBM Healthcare Investments, and Mubadala Capital, alongside existing investors OrbiMed, Redmile Group, New Leaf Venture Partners, Westlake BioPartners, Cormorant Asset Management, Blue Owl Capital, and RA Capital Management.
The new funding will be used to advance Electra’s pivotal global Phase 2/3 study of ELA026 for secondary hemophagocytic lymphohistiocytosis (sHLH) — a rare, life-threatening hyperinflammatory disease characterized by a severe immune overactivation and limited treatment options. The study is enrolling patients across research sites in the U.S. and Europe and has already begun dosing. The proceeds will also support the clinical advancement of ELA822, Electra’s second SIRP-targeted program designed to selectively deplete activated T lymphocytes, with potential broad applications across immunology and inflammation (I&I).
“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 Therapeutics has pioneered the development of novel therapies targeting SIRP, a family of cell surface receptors that regulate immune responses. This approach was clinically validated in the Phase 1b study of ELA026, in which frontline treatment of malignancy-associated HLH patients achieved 100% overall survival at eight weeks, compared with approximately 50% in historical benchmarks using available therapies. These findings provide a robust foundation for expanding the clinical development of ELA026 into additional indications and advancing ELA822 for broad I&I applications.
As part of this financing, Thomas Geninatti, PhD (Nextech) will join Electra’s Board of Directors, while Christoph Broja (EQT Life Sciences) will serve as a 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,” said Thomas Geninatti, PhD, of Nextech. “These encouraging results validate SIRP as a novel therapeutic mechanism and position Electra to expand its impact across immunology and oncology. We look forward to partnering with Electra to help bring new therapeutic breakthroughs to patients.”
About Secondary Hemophagocytic Lymphohistiocytosis (sHLH)
sHLH is a rare, life-threatening hyperinflammatory condition that can be triggered by cancer, infection, autoimmune disorders, or immunotherapy. It is characterized by excessive immune activation that can rapidly lead to multi-organ failure and death. Mortality remains high, with malignancy-associated HLH patients experiencing roughly 50% mortality within two months under current therapies.
About Electra Therapeutics
Electra Therapeutics is a clinical-stage biotechnology company focused on discovering and developing first-in-class therapies targeting signal regulatory proteins (SIRP) on immune cells. Its lead program, ELA026, is designed to selectively deplete pathological myeloid cells and T lymphocytes and is currently in pivotal development for sHLH, with additional indications under evaluation. The company’s second program, ELA822, targets activated T cells and has broad potential across immunology and inflammation.
