Electra Therapeutics Raises $84M in Series B Financing

February 16, 2022Client News

Gunderson Dettmer represented client Electra Therapeutics, a clinical-stage biotechnology company, in its $84 million Series B financing co-led by Westlake Village BioPartners and OrbiMed. The company was previously funded by its parent company, Star Therapeutics announced its de-stealth on the same day. Electra focuses on developing therapies that target signal regulatory proteins (SIRP) for the treatment of immunological diseases and cancer. The new financing enables Electra to continue advancing its lead product candidate, ELA026, in clinical trials and will support the development of two new programs.

In the announcement of the transaction, co-founder and CEO of Electra Adam Rosenthal, Ph.D. said, “We are thrilled to introduce Electra and share our novel approach to targeting SIRP. Our team has made rapid progress advancing our lead product candidate, ELA026, from an idea to the clinic in less than 3 years, and we are excited by each of our three pipeline programs targeting numerous diseases with significant unmet need.”

The Gunderson deal team was co-led by Marcia Hatch and Nate Gray and included Charlie Sorge and Douglas Ikegami. Steve Ray advised on tax-related matters and Gina Marek and Jie Wang advised on intellectual property-related matters.