• Electra Therapeutics raised USD 183M in Series C funding, with participation from Mubadala Capital and other global investors.
• The financing will fund a pivotal Phase 2/3 study of ELA026 in sHLH, a severe hyperinflammatory disease.
• Electra is also advancing ELA026 in hematologic cancers and accelerating its second SIRP-targeted program, ELA822, into clinical trials.

Mubadala Capital

US- based clinical stage biotechnology company Electra Therapeutics, raised USD 183 million in Series C financing.

The round was co-led by Nextech and EQT Life Sciences. It also saw participation from Sanofi, HBM Healthcare Investments, OrbiMed, Redmile Group, New Leaf Venture Partners, and Westlake BioPartners. In addition, Cormorant Asset Management, Blue Owl Capital, and RA Capital Management also participated.It worth noting that from the Middle East, Abu Dhabi’s alternative asset management platform Mubadala Capital also participated in the round.

Clinical Studies

Up next with the financing, it aims to fund a global pivotal Phase 2/3 study of ELA026 in sHLH. The trial targets secondary hemophagocytic lymphohistiocytosis, a severe hyperinflammatory disease with high mortality and limited available treatment options. Furthermore, the study is enrolling patients at research sites across the U.S. and Europe and has initiated dosing.

Beyond sHLH,  the company is also evaluating ELA026 in hematologic cancers. It also seeks to further support advancement of ELA822, Electra’s second SIRP-targeted program. The program selectively depletes activated T lymphocytes, into the clinic and through initial data readouts.

“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,” said Kathy Dong, PharmD, MBA, President and CEO of Electra Therapeutics.

Bottom line: Mubadala’s participation highlights growing Middle East interest in advanced biotech, reflecting the region’s push to back global life sciences innovation.