Forbion and Sofinnova Partners led a $70m Series A funding round in Elevara Medicines.

Forbion, a venture capital firm, and Sofinnova Partners, a European venture capital firm, led a $70m Series A funding round in Elevara Medicines, a clinical-stage company, with participation from Monograph Capital and Weatherden. "We have created Elevara together with Monograph Capital because we believe ELV001 could have a fundamental impact on RA patients who fail to achieve disease remission through immune targeted approaches. This $70m financing provides us with the resources to rapidly advance ELV001 through Phase 2 and to expand into other chronic inflammatory indications. We are grateful for the support of our investors and are excited to take this molecule forward with Teijin Pharma,” Emma Tinsley, Elevara Medicines CEO.