EQT Life Sciences Co-Leads $183 Million Series C in Electra Therapeutics

EQT Life Sciences, alongside Nextech, has co-led a $183 million Series C financing round for Electra Therapeutics, a US biotechnology firm focused on developing treatments for severe immunological and cancer-related diseases. The funding aims to advance therapies for conditions with unmet medical needs.

The investment round included participation from new investors Sanofi, HBM Healthcare Investments, and Mubadala Capital, as well as all existing investors. The capital infusion will support the global registrational Phase 2/3 clinical study of Electra Therapeutics' lead program, ELA026. This program targets secondary hemophagocytic lymphohistiocytosis (sHLH), a life-threatening hyperinflammatory disease for which no approved therapies are widely available.

Proceeds will also fund the expansion of the ELA026 program into hematologic cancers and establish clinical proof-of-mechanism for a second program, ELA822, which has broad potential across immunology and inflammation. ELA026 is an antibody designed to target Signal Regulatory Proteins (SIRP) on immune cells, which are overexpressed in inflammatory diseases, aiming to selectively remove harmful immune cells while preserving normal function.

Electra Therapeutics reports promising early clinical data, with its ELA026 achieving 100% survival at eight weeks in a Phase 1b study for sHLH. The drug candidate has received FDA Breakthrough Therapy and EMA Priority Medicines designations for sHLH.

"The Electra team has demonstrated exceptional scientific and clinical execution," stated Christoph Broja, Partner in EQT Life Sciences. "We look forward to supporting the team as it drives its pivotal program forward and explores the broader potential of SIRP-targeted therapies."