Nextech and EQT Life Sciences led a $183m Series C round in Electra Therapeutics.

Nextech, a venture capital and private equity firm, and EQT Life Sciences, an investment firm focused on healthcare and life sciences, led a $183m Series C round in Electra Therapeutics, a clinical stage biotechnology company specializing in therapies against novel targets for diseases in immunology and cancer, with participation from Sanofi, HBM Healthcare Investments, Mubadala Capital, 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 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.