Key Takeaways
- Electra Therapeutics secures USD 183 million to advance treatments for severe immune and cancer-related diseases.
- Funding will support a pivotal Phase 2/3 study for ELA026, targeting secondary hemophagocytic lymphohistiocytosis (sHLH).
- Encouraging Phase 1b results show ELA026 achieved 100% survival at 8 weeks in frontline sHLH patients.
Electra Therapeutics Secures Major Funding for Innovative Treatments
Electra Therapeutics, a late-stage biotechnology company based in the U.S., is advancing treatments for serious immunological and cancer-related diseases. The company recently announced a successful USD 183 million Series C financing round, co-led by EQT Life Sciences and Nextech. This funding, which received contributions from Sanofi, HBM Healthcare Investments, and Mubadala Capital, will be utilized for the Phase 2/3 clinical trial of its lead program, ELA026, aimed at addressing secondary hemophagocytic lymphohistiocytosis (sHLH).
sHLH is a severe and often life-threatening condition characterized by hyperinflammation and often triggered by underlying health issues like cancer or autoimmune disorders. With no FDA-approved treatments available, existing options have dismal prognosis rates, as survival at 8 weeks is roughly 50%. Electra’s ELA026, an antibody that targets Signal Regulatory Proteins (SIRP) found on immune cells, offers a targeted approach to alleviate this condition by selectively depleting harmful immune cells while preserving normal immune function.
The Phase 1b study conducted on ELA026 has yielded promising outcomes: 100% survival at 8 weeks in frontline-treated patients with sHLH. While results are preliminary, they indicate the potential of ELA026 to restore immune balance effectively. The therapy has already been designated as a Breakthrough Therapy by the FDA and received Priority Medicines status from the EMA.
“The support from a strong group of investors underscores our commitment to developing life-changing treatments for patients with unmet medical needs,” stated Kathy Dong, President and CEO of Electra Therapeutics. She emphasized the company’s track record in innovating groundbreaking therapies.
Christoph Broja, a partner at EQT Life Sciences, lauded Electra’s scientific and clinical efforts, expressing confidence in the team’s ability to advance the pivotal study of ELA026 while also exploring the potential of a second SIRP-targeted program, ELA822, which aims to treat other immune-mediated diseases.
With this new funding, Electra Therapeutics is poised to push forward its clinical trials and continue its mission to provide innovative solutions for patients battling challenging diseases.
For further information on Electra Therapeutics, visit their website at www.electra-therapeutics.com.
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